Home / Market Movers / Midday Mover: Linamar Corporation (LNR:CA) Gains 1.12% to Lead TSX Composite Consumer Discretionary Stocks at Noon on September 22

Midday Mover: Linamar Corporation (LNR:CA) Gains 1.12% to Lead TSX Composite Consumer Discretionary Stocks at Noon on September 22

Linamar Corporation (LNR:CA) is one of the best performing stocks in the consumer discretionary sector in the S&P/TSX Composite Index at the lunch break on September 22. Shares of LNR:CA have climbed 1.12% about halfway through the session to $54.18 after closing the day prior at $53.58. So far, the stock has traded as high as $54.44 and as low as $53.65 in morning action. Today’s advance has come with about 42,427 shares changing hands, compared to an average 30-day volume of 149,301 for Linamar Corporation. The price is currently below the 30-day volume weighted average price of $54.12 for LNR:CA.

The share appreciation gives the company a market capitalization of $3.49 billion based upon 65.19 million shares outstanding. It also means that Linamar Corporat has a price-to-book ratio of 1.46:1 and a price-to-earnings ratio of 7.2:1.

In the past 52 weeks, shares of LNR:CA have traded as low as $42.24 and as high as $78.71. Technical traders will take note that at $54.18, shares of LNR:CA are trading below their 200-day MA at $56.62 and above their 50-day MA at $53.21. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is Linamar Corporat?

Linamar Corp is a manufacturing company of engineered products powering vehicles, motion,work and lives. The Company is made up of two operating segments – the Powertrain / Driveline segment and the Industrial segment. The company’s 18470 employees are led by CEO Linda S. Hasenfratz from the corporate headquarters at 287 Speedvale Avenue West.

What is the S&P/TSX Composite Index?

Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.

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