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

Key Points

• Linamar's stock price crossed above its 200-day moving average, reaching a high of C$69.33, with the last trading price at C$68.53.
• Analysts have recently upgraded their price targets for Linamar, with Scotiabank, CIBC, and TD Securities increasing their targets to between C$66.00 and C$68.00.
• Insider activity shows that Senior Officer Csaba Havasi sold 4,000 shares at an average price of C$61.96, contributing to a total of 6,100 shares sold by insiders over the last 90 days.

Shares of Linamar Co. (TSE:LNR - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$56.71 and traded as high as C$69.33. Linamar shares last traded at C$68.53, with a volume of 162,532 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LNR shares. Scotiabank raised their price target on shares of Linamar from C$61.00 to C$66.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. TD Securities raised shares of Linamar from a "hold" rating to a "buy" rating and raised their price target for the company from C$59.00 to C$66.00 in a research note on Thursday, May 8th. Finally, CIBC lifted their target price on shares of Linamar from C$57.00 to C$68.00 in a research note on Thursday, July 17th.

Linamar Trading Down 1.1%

The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84. The stock has a market capitalization of C$4.14 billion, a P/E ratio of 7.07, a P/E/G ratio of 1.12 and a beta of 1.41. The firm's 50 day simple moving average is C$64.36 and its two-hundred day simple moving average is C$56.89.

Insiders Place Their Bets

In other Linamar news, Senior Officer Csaba Havasi sold 4,000 shares of Linamar stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of C$61.96, for a total value of C$247,848.00. Insiders have sold 6,100 shares of company stock valued at $356,349 over the last ninety days. Insiders own 33.49% of the company's stock.

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.