Linamar (TSE:LNR) Share Price Crosses Above 200-Day Moving Average of $64.51

Linamar Co. (TSE:LNR) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$64.51 and traded as high as C$67.65. Linamar shares last traded at C$66.40, with a volume of 44,847 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LNR. Scotiabank upped their target price on Linamar from C$82.00 to C$85.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. CIBC lowered their price target on Linamar from C$91.50 to C$90.00 and set an “outperform” rating for the company in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Linamar currently has an average rating of “Moderate Buy” and a consensus target price of C$82.20.

Linamar Stock Up 1.1 %

The company has a debt-to-equity ratio of 33.30, a current ratio of 1.59 and a quick ratio of 0.75. The stock has a market cap of C$4.09 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 1.12 and a beta of 1.45. The business has a fifty day moving average of C$68.29 and a 200-day moving average of C$64.51.

Linamar (TSE:LNR) last announced its quarterly earnings results on Wednesday, March 6th. The company reported C$1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.23. The firm had revenue of C$2.45 billion during the quarter, compared to analyst estimates of C$2.40 billion. Linamar had a return on equity of 9.93% and a net margin of 5.17%. Equities research analysts anticipate that Linamar Co. will post 10.0864553 earnings per share for the current year.

Linamar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.51%. This is a positive change from Linamar’s previous quarterly dividend of $0.22. Linamar’s dividend payout ratio is currently 12.24%.

Insiders Place Their Bets

In related news, Senior Officer Michael Willard Russell bought 586 shares of the stock in a transaction on Monday, March 18th. The stock was bought at an average price of C$69.93 per share, for a total transaction of C$40,978.98. Following the completion of the acquisition, the insider now directly owns 586 shares in the company, valued at C$40,978.98. 35.92% of the stock is owned by company insiders.

Linamar Company Profile

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.