Linamar (TSE:LNR) Sets New 1-Year High – What’s Next?

Linamar Co. (TSE:LNR)’s share price hit a new 52-week high on Wednesday . The company traded as high as C$107.55 and last traded at C$107.40, with a volume of 1932 shares. The stock had previously closed at C$103.39.

Wall Street Analysts Forecast Growth

LNR has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce boosted their price objective on Linamar from C$110.00 to C$115.00 in a research report on Tuesday, July 14th. Raymond James Financial increased their target price on Linamar from C$90.00 to C$100.00 and gave the stock a “market perform” rating in a research report on Thursday, May 7th. Scotia raised their target price on Linamar from C$96.00 to C$99.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Scotiabank raised their target price on Linamar from C$99.00 to C$102.00 and gave the company a “sector perform” rating in a research note on Monday, July 20th. Finally, TD boosted their price target on shares of Linamar from C$116.00 to C$119.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Linamar currently has an average rating of “Moderate Buy” and an average price target of C$104.14.

Linamar Trading Up 2.0%

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 stock has a market cap of C$6.38 billion, a P/E ratio of 10.26, a PEG ratio of 1.12 and a beta of 1.72. The firm’s 50-day simple moving average is C$102.18 and its 200 day simple moving average is C$93.88.

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

Insider Activity at Linamar

In other Linamar news, insider Csaba Havasi sold 3,000 shares of the company’s stock in a transaction 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 transaction, the insider owned 71,543 shares of the company’s stock, valued at approximately C$6,973,296.21. This represents a 4.02% decrease in their ownership of the stock. 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.