Linamar (TSE:LNR) Stock Crosses Above Two Hundred Day Moving Average of $67.06

Linamar Co. (TSE:LNR)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$67.06 and traded as high as C$67.07. Linamar shares last traded at C$66.49, with a volume of 77,621 shares traded.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. CIBC increased their target price on Linamar from C$90.00 to C$92.00 in a research report on Thursday, May 9th. Raymond James increased their target price on Linamar from C$70.00 to C$74.00 in a research report on Thursday, May 9th. TD Securities increased their target price on Linamar from C$86.00 to C$97.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. BMO Capital Markets increased their target price on Linamar from C$80.00 to C$90.00 in a research report on Thursday, May 9th. Finally, Scotiabank raised their price target on Linamar from C$85.00 to C$90.00 in a report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$88.60.

Linamar Price Performance

The firm has a market cap of C$4.13 billion, a PE ratio of 7.31, a PEG ratio of 1.12 and a beta of 1.48. The firm has a fifty day simple moving average of C$68.20 and a two-hundred day simple moving average of C$67.09. The company has a debt-to-equity ratio of 47.60, a quick ratio of 0.75 and a current ratio of 1.66.

Linamar (TSE:LNR) last posted its quarterly earnings data on Wednesday, May 8th. The company reported C$2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.12 by C$0.47. The business had revenue of C$2.72 billion during the quarter, compared to analyst estimates of C$2.70 billion. Linamar had a return on equity of 10.76% and a net margin of 5.55%. Equities analysts predict that Linamar Co. will post 10.703876 EPS for the current fiscal year.

Linamar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Monday, May 27th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Friday, May 24th. Linamar’s payout ratio is 10.91%.

About Linamar

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.