Linamar (TSE:LNR) Reaches New 52-Week High – Time to Buy?

Linamar Co. (TSE:LNR)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as C$89.44 and last traded at C$89.01, with a volume of 14209 shares. The stock had previously closed at C$87.21.

Analysts Set New Price Targets

A number of analysts have issued reports on LNR shares. TD Securities raised their target price on Linamar from C$85.00 to C$96.00 in a research report on Thursday, November 13th. Scotiabank lifted their price target on Linamar from C$80.00 to C$83.00 in a research note on Friday, October 17th. Finally, CIBC upped their price target on Linamar from C$88.00 to C$99.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$87.60.

Linamar Stock Performance

The firm has a market capitalization of C$5.30 billion, a P/E ratio of 21.51, a PEG ratio of 1.12 and a beta of 1.63. The company has a 50-day simple moving average of C$82.11 and a two-hundred day simple moving average of C$75.96. The company has a debt-to-equity ratio of 42.84, a quick ratio of 0.75 and a current ratio of 1.79.

Linamar (TSE:LNR) last released its quarterly earnings results on Wednesday, November 12th. The company reported C$2.51 earnings per share for the quarter. The company had revenue of C$2.54 billion for the quarter. Linamar had a return on equity of 10.73% and a net margin of 5.58%. As a group, equities analysts forecast 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 company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of C$88.00, for a total transaction of C$37,576.00. Insiders own 33.49% of the company’s stock.

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.