Linamar (TSE:LNR) Reaches New 52-Week High – Here’s What Happened

Linamar Co. (TSE:LNR) reached a new 52-week high on Thursday . The company traded as high as C$79.65 and last traded at C$79.54, with a volume of 51597 shares changing hands. The stock had previously closed at C$75.54.

Analyst Upgrades and Downgrades

LNR has been the topic of a number of recent research reports. CIBC raised shares of Linamar from a “neutral” rating to an “outperform” rating and raised their price objective for the company from C$77.00 to C$87.00 in a research note on Tuesday, August 26th. BMO Capital Markets increased their price objective on Linamar from C$75.00 to C$80.00 in a research note on Thursday, August 14th. Raymond James Financial raised their target price on Linamar from C$70.00 to C$80.00 and gave the company a “market perform” rating in a research note on Thursday, August 14th. Cibc World Mkts raised Linamar from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 25th. Finally, Scotiabank lifted their price objective on Linamar from C$80.00 to C$83.00 in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$83.00.

Linamar Price Performance

The stock has a market capitalization of C$4.76 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.12 and a beta of 1.65. The company has a debt-to-equity ratio of 42.84, a quick ratio of 0.75 and a current ratio of 1.79. The stock’s 50 day moving average is C$75.06 and its two-hundred day moving average is C$68.59.

Linamar Company Profile

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.