Linamar (TSE:LNR) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Linamar Co. (TSE:LNR) shares passed above its two hundred day moving average during trading on Friday. The stock has a two hundred 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.

Analyst Ratings Changes

A number of brokerages have issued reports on LNR. BMO Capital Markets downgraded Linamar from an “outperform” rating to a “hold” rating and set a C$105.00 price objective on the stock. in a research report on Friday, September 18th. Scotiabank boosted their target price on Linamar from C$102.00 to C$114.00 and gave the company a “sector perform” rating in a research report on Thursday, August 13th. TD increased their price target on Linamar from C$119.00 to C$123.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce raised their price target on Linamar from C$115.00 to C$120.00 in a research report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Linamar presently has an average rating of “Hold” and an average price target of C$110.71.

Linamar Stock Performance

The stock has a market cap of C$5.72 billion, a PE ratio of 8.46, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. 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 firm has a 50 day moving average price of C$101.64 and a 200 day moving average price of C$96.62.

Insider Buying and Selling

In other news, Director Mark Stoddart sold 18,932 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$105.58, for a total value of C$1,998,840.56. Following the completion of the sale, the director owned 455,914 shares in the company, valued at approximately C$48,135,400.12. The trade was 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.