Linamar (TSE:LNR) Sets New 1-Year High – Still a Buy?

Linamar Co. (TSE:LNR) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$83.00 and last traded at C$82.86, with a volume of 5296 shares changing hands. The stock had previously closed at C$81.54.

Analyst Ratings Changes

A number of research firms recently weighed in on LNR. Cibc World Mkts upgraded shares of Linamar from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 25th. Scotiabank boosted their price target on shares of Linamar from C$80.00 to C$83.00 in a report on Friday, October 17th. TD Securities raised their price objective on shares of Linamar from C$85.00 to C$96.00 in a report on Thursday, November 13th. Finally, CIBC boosted their target price on shares of Linamar from C$87.00 to C$88.00 in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$85.40.

Linamar Price Performance

The stock’s 50-day moving average is C$76.56 and its 200 day moving average is C$72.22. 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 stock has a market capitalization of C$4.99 billion, a PE ratio of 20.24, a P/E/G ratio of 1.12 and a beta of 1.59.

Linamar (TSE:LNR) last released its quarterly earnings data on Wednesday, November 12th. The company reported C$2.51 earnings per share (EPS) for the quarter. The company had revenue of C$2.54 billion during the quarter. Linamar had a net margin of 5.58% and a return on equity of 10.73%. As a group, equities analysts expect that Linamar Co. will post 11.4332724 earnings per share for the current year.

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.