Linamar (TSE:LNR) Stock Crosses Above 200-Day Moving Average – Here’s Why

Linamar Co. (TSE:LNR)’s stock price passed 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.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LNR shares. Scotiabank upped their target price on Linamar from C$102.00 to C$114.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. Raymond James Financial lifted their price target on Linamar from C$90.00 to C$100.00 and gave the company a “market perform” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce boosted their price target on Linamar from C$115.00 to C$120.00 in a research report on Thursday, August 13th. Scotia raised their price objective on Linamar from C$96.00 to C$99.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Finally, TD lifted their target price on Linamar from C$119.00 to C$123.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Linamar has a consensus rating of “Moderate Buy” and a consensus price target of C$111.67.

Linamar Stock Up 1.1%

The company has a 50-day moving average of C$102.29 and a 200-day moving average of C$96.06. The company has a current ratio of 1.88, a quick ratio of 0.75 and a debt-to-equity ratio of 32.89. The company has a market capitalization of C$5.91 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 1.12 and a beta of 1.71.

Insider Activity

In other news, Director Mark Stoddart sold 18,932 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. 33.49% of the stock is currently owned by company 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.