Linamar (TSE:LNR) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Linamar shares crossed above their 200-day moving average of C$95.99, reaching C$98.22 before closing at C$96.35 on trading volume of 120,240 shares.
• Analysts raised their price targets, with the consensus target increasing to C$111.67 and the stock carrying a “Moderate Buy” consensus rating based on three Buy and three Hold ratings.
• Director Mark Stoddart sold 18,932 shares for approximately C$2.0 million, reducing his position by 3.99%; insiders collectively own 33.49% of the company.

Linamar Co. (TSE:LNR - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$95.99 and traded as high as C$98.22. Linamar shares last traded at C$96.35, with a volume of 120,240 shares.

Analysts Set New Price Targets

LNR has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce increased their target price on shares of Linamar from C$115.00 to C$120.00 in a research report on Thursday, August 13th. TD lifted their price target on shares of Linamar from C$119.00 to C$123.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Scotiabank boosted their price objective on shares of Linamar from C$102.00 to C$114.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 13th. Scotia increased their price objective on shares of Linamar from C$96.00 to C$99.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 7th. Finally, Raymond James Financial increased their price objective on shares of Linamar from C$90.00 to C$100.00 and gave the stock a "market perform" rating in a research report on Thursday, May 7th. Three equities 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$111.67.

Linamar Stock Performance

The stock has a 50 day simple moving average of C$102.32 and a 200 day simple moving average of C$95.99. The company has a quick ratio of 0.75, a current ratio of 1.88 and a debt-to-equity ratio of 32.89. The company has a market cap of C$5.68 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 1.12 and a beta of 1.71.

Insider Buying and Selling

In other Linamar news, Director Mark Stoddart sold 18,932 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$105.58, for a total value of C$1,998,840.56. Following the completion of the transaction, the director owned 455,914 shares in the company, valued at C$48,135,400.12. This represents a 3.99% decrease in their position. Company 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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