Linamar (TSE:LNR) Trading 10% Higher Following Analyst Upgrade

Linamar Co. (TSE:LNR)’s share price shot up 10% on Thursday after TD Securities raised their price target on the stock from C$86.00 to C$97.00. TD Securities currently has a buy rating on the stock. Linamar traded as high as C$73.84 and last traded at C$72.39. 83,190 shares were traded during trading, an increase of 1% from the average session volume of 82,115 shares. The stock had previously closed at C$65.79.

Several other equities analysts also recently issued reports on the company. Scotiabank lifted their price objective on Linamar from C$85.00 to C$90.00 in a research report on Thursday. BMO Capital Markets boosted their target price on Linamar from C$80.00 to C$90.00 in a research report on Thursday. CIBC raised their price objective on Linamar from C$90.00 to C$92.00 in a research note on Thursday. Finally, Raymond James boosted their price objective on shares of Linamar from C$70.00 to C$74.00 in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$88.60.

Insider Transactions at Linamar

In other news, Senior Officer Michael Willard Russell sold 2,022 shares of Linamar stock in a transaction on Monday, March 11th. The shares were sold at an average price of C$69.18, for a total value of C$139,881.96. 35.92% of the stock is owned by company insiders.

Linamar Price Performance

The firm has a 50 day moving average price of C$67.94 and a two-hundred day moving average price of C$64.50. The company has a debt-to-equity ratio of 33.30, a quick ratio of 0.75 and a current ratio of 1.59. The company has a market cap of C$4.37 billion, a P/E ratio of 8.68, a P/E/G ratio of 1.12 and a beta of 1.45.

Linamar (TSE:LNR) last posted its earnings results on Wednesday, March 6th. The company reported C$1.98 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.75 by C$0.23. The business had revenue of C$2.45 billion for the quarter, compared to analyst estimates of C$2.40 billion. Linamar had a net margin of 5.17% and a return on equity of 9.93%. On average, analysts predict that Linamar Co. will post 10.0864553 EPS for the current fiscal year.

Linamar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.25 per share. This is an increase from Linamar’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, March 27th. Linamar’s payout ratio is currently 12.24%.

Linamar Company Profile

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.