Linamar (TSE:LNR) Share Price Crosses Above 200 Day Moving Average - Here's Why

Shares of 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$55.50 and traded as high as C$64.50. Linamar shares last traded at C$64.30, with a volume of 63,716 shares.

Analyst Ratings Changes

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

Linamar Stock Performance

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 business's 50-day moving average is C$55.82 and its 200-day moving average is C$55.50. The company has a market capitalization of C$3.85 billion, a PE ratio of 6.57, a PEG ratio of 1.12 and a beta of 1.41.

Insider Buying and Selling at Linamar

In related news, Senior Officer Csaba Havasi sold 2,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of C$50.91, for a total value of C$101,816.40. 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.