Linamar (TSE:LNR) Stock Crosses 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 trading hands.

Analyst Ratings Changes

Several research firms have recently commented on LNR. Cibc World Mkts raised shares of Linamar from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 25th. Raymond James Financial raised their price objective on shares of Linamar from C$70.00 to C$80.00 and gave the company a "market perform" rating in a research note on Thursday, August 14th. TD Securities raised their price objective on shares of Linamar from C$78.00 to C$85.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Scotiabank raised their price objective on shares of Linamar from C$71.00 to C$80.00 and gave the company a "sector perform" rating in a research note on Thursday, August 14th. Finally, BMO Capital Markets raised their price objective on shares of Linamar from C$75.00 to C$80.00 in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$82.40.

Linamar Trading Up 1.2%

The company's fifty day moving average is C$70.65 and its two-hundred day moving average is C$60.85. The stock has a market cap of C$4.66 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.12 and a beta of 1.78. The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84.

Linamar Increases Dividend

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

About Linamar

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.

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