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

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. TD upped their price objective 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. Canadian Imperial Bank of Commerce lifted their target price on shares of Linamar from C$115.00 to C$120.00 in a research note on Thursday, August 13th. Scotia boosted their target price on shares of Linamar from C$96.00 to C$99.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Scotiabank upped their price target on shares of Linamar from C$102.00 to C$114.00 and gave the company a “sector perform” rating in a research note on Thursday, August 13th. Finally, Raymond James Financial raised 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 report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$111.67.

Linamar Trading Up 4.2%

The company has a debt-to-equity ratio of 32.89, a quick ratio of 0.75 and a current ratio of 1.88. The company has a 50 day simple moving average of C$102.82 and a two-hundred day simple moving average of C$95.47. The firm has a market cap of C$6.43 billion, a PE ratio of 9.51, a P/E/G ratio of 1.12 and a beta of 1.71.

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. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.