Linamar (TSE:LNR) Reaches New 1-Year High – Here’s What Happened

Linamar Co. (TSE:LNR) reached a new 52-week high during trading on Monday . The company traded as high as C$100.11 and last traded at C$100.11, with a volume of 29979 shares trading hands. The stock had previously closed at C$98.97.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Raymond James Financial upped their price target on Linamar from C$90.00 to C$100.00 and gave the company a “market perform” rating in a research report on Thursday, May 7th. TD upped their price target on Linamar from C$116.00 to C$119.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Scotia upped their target price 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. Canadian Imperial Bank of Commerce upped their target price on Linamar from C$105.00 to C$110.00 in a research report on Thursday, May 7th. Finally, TD Securities upped their target price on Linamar from C$103.00 to C$114.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$102.57.

Linamar Trading Up 1.1%

The company has a current ratio of 1.50, a quick ratio of 0.75 and a debt-to-equity ratio of 35.07. The firm has a 50-day moving average of C$88.14 and a 200 day moving average of C$86.08. The company has a market cap of C$5.92 billion, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 1.12 and a beta of 1.68.

Linamar (TSE:LNR) last released its quarterly earnings data on Thursday, May 7th. The company reported C$3.28 earnings per share for the quarter. Linamar had a net margin of 5.90% and a return on equity of 10.37%. The firm had revenue of C$2.94 billion for the quarter. On average, analysts predict that Linamar Co. will post 11.4332724 earnings per share for the current fiscal year.

Insider Activity at Linamar

In other news, insider Csaba Havasi sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$97.47, for a total value of C$292,410.00. Following the completion of the sale, the insider directly owned 71,543 shares of the company’s stock, valued at C$6,973,296.21. This represents a 4.02% 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.