Linamar (TSE:LNR) Sets New 52-Week High – Still a Buy?

Linamar Co. (TSE:LNR)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$99.33 and last traded at C$98.76, with a volume of 15582 shares traded. The stock had previously closed at C$97.13.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LNR shares. TD Securities increased their target price on Linamar from C$103.00 to C$114.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Raymond James Financial upped their price target on shares of Linamar from C$90.00 to C$100.00 and gave the stock a “market perform” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce upped their price target on shares of Linamar from C$105.00 to C$110.00 in a report on Thursday, May 7th. TD upped their price target on shares of Linamar from C$116.00 to C$119.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Scotia upped their price target on shares of Linamar from C$96.00 to C$99.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$102.57.

Linamar Stock Up 1.7%

The stock has a 50 day moving average price of C$87.39 and a 200-day moving average price of C$85.09. The stock has a market capitalization of C$5.85 billion, a P/E ratio of 9.41, a PEG ratio of 1.12 and a beta of 1.68. The company has a debt-to-equity ratio of 35.07, a current ratio of 1.50 and a quick ratio of 0.75.

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

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.