Linamar (TSE:LNR) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Linamar's stock has surpassed its 200-day moving average, reaching a high of C$77.94 during trading, while last trading at C$77.87.
• Analysts have raised their price targets for Linamar, with the company receiving a consensus rating of “Moderate Buy” and an average price target of C$82.40.
• Linamar has increased its quarterly dividend from $0.25 to $0.29, representing an annual yield of 1.5% and a payout ratio of 29.46%.

Linamar Co. (TSE:LNR - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$60.85 and traded as high as C$77.94. Linamar shares last traded at C$77.87, with a volume of 94,671 shares changing hands.

Analyst Ratings Changes

LNR has been the topic of a number of analyst reports. TD Securities increased their price objective on shares of Linamar from C$78.00 to C$85.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. CIBC raised Linamar from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from C$77.00 to C$87.00 in a report on Tuesday, August 26th. Scotiabank upped their price objective on Linamar from C$71.00 to C$80.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 14th. Cibc World Mkts upgraded Linamar from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. Finally, Raymond James Financial lifted their price target on shares of Linamar from C$70.00 to C$80.00 and gave the company a "market perform" rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$82.40.

Linamar Price Performance

The business has a 50 day simple moving average of C$71.37 and a two-hundred day simple moving average of C$61.41. The company has a debt-to-equity ratio of 42.84, a quick ratio of 0.75 and a current ratio of 1.79. The firm has a market capitalization of C$4.61 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.12 and a beta of 1.78.

Linamar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Friday, August 22nd were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.5%. This is a boost from Linamar's previous quarterly dividend of $0.25. Linamar's payout ratio is 29.46%.

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.