Linamar (TSE:LNR) Reaches New 12-Month High – Still a Buy?

Linamar Co. (TSE:LNR)’s share price reached a new 52-week high on Wednesday . The company traded as high as C$89.44 and last traded at C$89.01, with a volume of 14209 shares traded. The stock had previously closed at C$87.21.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LNR. CIBC increased their price target on Linamar from C$88.00 to C$99.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. TD Securities lifted their price objective on Linamar from C$85.00 to C$96.00 in a report on Thursday, November 13th. Finally, Scotiabank increased their target price on Linamar from C$80.00 to C$83.00 in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$87.60.

Linamar Stock Down 1.0%

The firm has a 50 day moving average price of C$82.58 and a 200-day moving average price of C$76.14. The firm has a market cap of C$5.29 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.12 and a beta of 1.63. The company has a current ratio of 1.79, a quick ratio of 0.75 and a debt-to-equity ratio of 42.84.

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

Insider Activity

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

Linamar Company Profile

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.