Linamar (TSE:LNR) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Linamar Co. (TSE:LNR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$55.30 and traded as high as C$62.69. Linamar shares last traded at C$62.61, with a volume of 110,637 shares changing hands.

Wall Street Analyst Weigh In

LNR has been the subject of a number of research analyst reports. TD Securities upgraded shares of Linamar from a "hold" rating to a "buy" rating and lifted their price target for the stock from C$59.00 to C$66.00 in a research note on Thursday, May 8th. BMO Capital Markets dropped their target price on shares of Linamar from C$75.00 to C$65.00 in a research report on Thursday, March 6th. CIBC lowered shares of Linamar from an "outperform" rating to a "neutral" rating and cut their target price for the company from C$82.00 to C$55.00 in a research note on Wednesday, March 5th. Scotiabank lifted their price target on Linamar from C$61.00 to C$66.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 8th. Finally, Cibc World Mkts lowered Linamar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th.

Linamar Trading Down 0.1%

The stock has a market cap of C$3.86 billion, a P/E ratio of 6.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41. The firm's 50 day simple moving average is C$53.46 and its two-hundred day simple moving average is C$55.32. The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84.

Insider Activity

In related news, Senior Officer Csaba Havasi sold 4,000 shares of Linamar stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of C$61.96, for a total value of C$247,848.00. Corporate insiders own 33.49% of the company's stock.

Linamar Company Profile

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.