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

Linamar Co. (TSE:LNR)’s share price hit 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 traded. The stock had previously closed at C$89.66.

Analyst Upgrades and Downgrades

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

Linamar Stock Performance

The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84. The stock has a market cap of C$5.68 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.60. The firm’s 50-day moving average is C$85.43 and its two-hundred day moving average is C$78.34.

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

Insider Buying and Selling

In other Linamar news, insider Alexander Drolc sold 427 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was 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 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.