Linamar (OTCMKTS:LIMAF) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Linamar Co. (OTCMKTS:LIMAF)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $71.96 and traded as high as $73.75. Linamar shares last traded at $73.75, with a volume of 2,999 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LIMAF. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Linamar in a report on Tuesday, July 14th. Scotiabank reaffirmed a “sector perform” rating on shares of Linamar in a report on Monday. BMO Capital Markets reiterated an “outperform” rating on shares of Linamar in a research note on Thursday, May 7th. Finally, TD Securities reissued a “buy” rating on shares of Linamar in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Linamar has an average rating of “Moderate Buy”.

Linamar Stock Performance

The company’s 50-day moving average is $72.05 and its 200-day moving average is $66.93.

About Linamar

Linamar Corporation is a diversified global manufacturing company headquartered in Guelph, Ontario. The company serves automotive and industrial markets through precision machined and assembled components, modules and systems. Its operations span North America, Europe and Asia, with additional facilities in South America and emerging markets, supporting a broad customer base in passenger vehicles, commercial vehicles, construction, agriculture and energy industries.

In its Mobility segment, Linamar designs and produces powertrain systems, driveline components and other modules for internal combustion and electrified vehicles.