Linamar (TSE:LNR) Stock Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Linamar shares crossed above their 200-day moving average, reaching C$97.52 before closing at C$96.97, up 2.6%. The 200-day average is C$96.62, while the 50-day average is C$101.64.
• Analyst sentiment remains mixed: TD, CIBC and Scotiabank raised their price targets, while BMO downgraded the stock to “hold.” The consensus rating is Hold, with an average target of C$110.71.
• Director Mark Stoddart sold 18,932 shares for approximately C$2.0 million, reducing his stake by 3.99%; insiders still own 33.49% of Linamar’s outstanding shares.

Shares of Linamar Co. (TSE:LNR - Get Free Report) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$96.62 and traded as high as C$97.52. Linamar shares last traded at C$96.97, with a volume of 217,306 shares traded.

Analysts Set New Price Targets

LNR has been the topic of several recent analyst reports. TD increased their target price on Linamar from C$119.00 to C$123.00 and gave the company a "buy" rating in a report on Thursday, August 13th. BMO Capital Markets downgraded Linamar from an "outperform" rating to a "hold" rating and set a C$105.00 price target for the company. in a report on Friday, September 18th. Canadian Imperial Bank of Commerce upped their price objective on Linamar from C$115.00 to C$120.00 in a research report on Thursday, August 13th. Finally, Scotiabank increased their price objective on Linamar from C$102.00 to C$114.00 and gave the company a "sector perform" rating in a report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Linamar currently has a consensus rating of "Hold" and a consensus price target of C$110.71.

Linamar Stock Up 2.6%

The firm has a market cap of C$5.72 billion, a PE ratio of 8.46, a P/E/G ratio of 1.12 and a beta of 1.62. The company has a debt-to-equity ratio of 32.89, a quick ratio of 0.75 and a current ratio of 1.88. The firm's 50-day moving average price is C$101.64 and its two-hundred day moving average price is C$96.62.

Insider Buying and Selling

In related news, Director Mark Stoddart sold 18,932 shares of Linamar stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of C$105.58, for a total transaction of C$1,998,840.56. Following the sale, the director directly owned 455,914 shares in the company, valued at C$48,135,400.12. This trade represents a 3.99% decrease in their position. 33.49% of the stock is owned by corporate insiders.

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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