Linamar (TSE:LNR) Sets New 52-Week High – Should You Buy?

Linamar Co. (TSE:LNR)’s share price hit a new 52-week high during trading on Friday . The company traded as high as C$108.90 and last traded at C$107.90, with a volume of 78873 shares trading hands. The stock had previously closed at C$104.60.

Analyst Ratings Changes

LNR has been the topic of a number of research reports. Scotia lifted their price objective on Linamar from C$96.00 to C$99.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Scotiabank raised their target price on shares of Linamar from C$102.00 to C$114.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Raymond James Financial boosted their price target on shares of 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. TD increased their price objective on shares of Linamar from C$119.00 to C$123.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of Linamar from C$115.00 to C$120.00 in a research note on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Linamar presently has an average rating of “Moderate Buy” and an average price target of C$111.67.

Linamar Stock Performance

The company has a quick ratio of 0.75, a current ratio of 1.88 and a debt-to-equity ratio of 32.89. The business has a 50 day moving average price of C$102.70 and a 200 day moving average price of C$95.38. The stock has a market cap of C$6.47 billion, a P/E ratio of 9.57, a PEG ratio of 1.12 and a beta of 1.71.

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.