Linamar (TSE:LNR) Sets New 52-Week High – Here’s What Happened

Linamar Co. (TSE:LNR)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$91.49 and last traded at C$91.32, with a volume of 8774 shares trading hands. The stock had previously closed at C$89.66.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LNR shares. TD Securities upped their price objective on Linamar from C$96.00 to C$103.00 in a research report on Thursday, February 5th. Canadian Imperial Bank of Commerce increased their price target on shares of Linamar from C$88.00 to C$99.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Finally, Scotiabank raised their price objective on shares of Linamar from C$83.00 to C$98.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$92.00.

Linamar Trading Up 1.5%

The stock has a market capitalization of C$5.44 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.12 and a beta of 1.60. 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 business has a 50-day moving average of C$84.93 and a 200-day moving average of C$78.17.

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

Insider Activity at Linamar

In related news, insider Alexander Drolc sold 427 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of C$88.00, for a total value of C$37,576.00. 33.49% of the stock is owned by 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.