Linamar (TSE:LNR) Stock Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Linamar’s stock crossed above its 200-day moving average, trading as high as C$101.84 before last changing hands at C$99.89. The move came on volume of 123,114 shares.
• Analyst sentiment remains mixed but constructive, with three Buy ratings and three Hold ratings, and a consensus “Moderate Buy” plus an average price target of C$102.57.
• The company reported solid recent results, posting C$3.28 EPS and C$2.94 billion in revenue for the quarter. Insider Csaba Havasi also sold 3,000 shares in May.

Linamar Co. (TSE:LNR - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$91.77 and traded as high as C$101.84. Linamar shares last traded at C$99.89, with a volume of 123,114 shares changing hands.

Analyst Upgrades and Downgrades

LNR has been the subject of several research analyst reports. Scotiabank reduced their price objective on Linamar from C$99.00 to C$96.00 and set a "sector perform" rating for the company in a report on Friday, April 24th. Canadian Imperial Bank of Commerce raised their price target on shares of Linamar from C$105.00 to C$110.00 in a report on Thursday, May 7th. Raymond James Financial lifted their price target on shares of Linamar from C$90.00 to C$100.00 and gave the stock a "market perform" rating in a research note on Thursday, May 7th. Scotia boosted their price objective on shares of Linamar from C$96.00 to C$99.00 and gave the company a "sector perform" rating in a report on Thursday, May 7th. Finally, TD increased their price objective on shares of Linamar from C$116.00 to C$119.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$102.57.

Linamar Trading Down 1.4%

The stock has a market capitalization of C$5.91 billion, a PE ratio of 9.51, a P/E/G ratio of 1.12 and a beta of 1.72. The company has a current ratio of 1.50, a quick ratio of 0.75 and a debt-to-equity ratio of 35.07. The stock has a 50 day moving average price of C$99.62 and a 200-day moving average price of C$91.77.

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

Insider Transactions at Linamar

In other Linamar news, insider Csaba Havasi sold 3,000 shares of the business's stock in a transaction dated 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 directly owned 71,543 shares in the company, valued at C$6,973,296.21. The trade was a 4.02% decrease in their position. 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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