Linamar (TSE:LNR) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Linamar Co. (TSE:LNR)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$63.92 and traded as high as C$76.30. Linamar shares last traded at C$73.02, with a volume of 102,387 shares trading hands.

Analyst Upgrades and Downgrades

LNR has been the topic of several research reports. TD Securities raised their price target on Linamar from C$78.00 to C$85.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Raymond James Financial lifted their target price on Linamar from C$70.00 to C$80.00 and gave the company a “market perform” rating in a research note on Thursday, August 14th. Cibc World Mkts upgraded Linamar from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 25th. BMO Capital Markets raised their price target on Linamar from C$75.00 to C$80.00 in a report on Thursday, August 14th. Finally, Scotiabank raised their price target on Linamar from C$71.00 to C$80.00 and gave the stock a “sector perform” rating in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Linamar currently has a consensus rating of “Moderate Buy” and a consensus target price of C$82.40.

Linamar Price Performance

The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75. The stock has a market cap of C$4.37 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 1.12 and a beta of 1.66. The stock has a fifty day moving average of C$73.84 and a 200 day moving average of C$63.92.

Linamar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Friday, August 22nd were issued a $0.29 dividend. This is an increase from Linamar’s previous quarterly dividend of $0.25. This represents a $1.16 dividend on an annualized basis and a yield of 1.6%. Linamar’s payout ratio is presently 29.46%.

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.