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

Key Points

• Linamar shares climbed above their 200-day moving average, reaching C$106.12 and closing at C$105.67 versus the C$93.88 average.
• Analysts have generally raised their price targets, with a consensus “Moderate Buy” rating and an average target of C$104.14; ratings are split between three Buys and three Holds.
• The company reported quarterly revenue of C$2.94 billion and earnings of C$3.28 per share, while insider ownership remains substantial at 33.49% following an insider’s sale of 3,000 shares.

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$93.88 and traded as high as C$106.12. Linamar shares last traded at C$105.67, with a volume of 200,524 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Scotia boosted their price target on Linamar from C$96.00 to C$99.00 and gave the company a "sector perform" rating in a research note on Thursday, May 7th. Canadian Imperial Bank of Commerce increased their price objective on Linamar from C$110.00 to C$115.00 in a research note on Tuesday, July 14th. TD boosted their target price on shares of Linamar from C$116.00 to C$119.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Scotiabank upped their target price on shares of Linamar from C$99.00 to C$102.00 and gave the stock a "sector perform" rating in a report on Monday, July 20th. Finally, Raymond James Financial upped their target price on shares of Linamar from C$90.00 to C$100.00 and gave the stock a "market perform" rating in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$104.14.

Linamar Price Performance

The company has a debt-to-equity ratio of 35.07, a current ratio of 1.50 and a quick ratio of 0.75. The company's 50 day moving average price is C$102.18 and its 200 day moving average price is C$93.88. The firm has a market capitalization of C$6.26 billion, a P/E ratio of 10.06, a PEG ratio of 1.12 and a beta of 1.72.

Linamar (TSE:LNR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported C$3.28 earnings per share for the quarter. Linamar had a net margin of 5.90% and a return on equity of 10.37%. The firm had revenue of C$2.94 billion during the quarter. As a group, sell-side analysts anticipate that Linamar Co. will post 11.4332724 EPS for the current fiscal year.

Insider Activity at Linamar

In other news, insider Csaba Havasi sold 3,000 shares of the business's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$97.47, for a total transaction of C$292,410.00. Following the completion of the sale, the insider owned 71,543 shares in the company, valued at C$6,973,296.21. The trade was a 4.02% decrease in their ownership of the stock. Company insiders own 33.49% of the company's stock.

About Linamar

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company's Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.

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