Linamar (TSE:LNR) Reaches New 12-Month High – What’s Next?

Shares of Linamar Co. (TSE:LNR) reached a new 52-week high 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.

Wall Street Analyst Weigh In

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

Linamar Trading Up 4.8%

The stock has a market cap of C$6.47 billion, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 1.12 and a beta of 1.71. The stock’s 50-day moving average is C$102.70 and its two-hundred day moving average is C$95.38. The company has a debt-to-equity ratio of 32.89, a current ratio of 1.88 and a quick ratio of 0.75.

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.