Linamar (TSE:LNR) Given a C$85.00 Price Target at CIBC

Linamar (TSE:LNR) received a C$85.00 target price from CIBC in a report released on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 53.60% from the company’s current price.

Several other analysts also recently issued reports on the stock. Raymond James reduced their price target on shares of Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. BMO Capital Markets reduced their price objective on shares of Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th. Scotiabank lowered shares of Linamar from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$86.00 to C$77.00 in a report on Tuesday, October 29th. Finally, TD Securities cut shares of Linamar from a “buy” rating to a “hold” rating and dropped their price target for the company from C$89.00 to C$68.00 in a research report on Wednesday, November 13th.

Linamar Price Performance

Linamar stock opened at C$55.34 on Monday. The stock has a 50-day moving average price of C$59.16 and a two-hundred day moving average price of C$62.19. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 46.32. Linamar has a 12 month low of C$54.07 and a 12 month high of C$73.84. The company has a market capitalization of C$3.41 billion, a PE ratio of 5.65, a P/E/G ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported C$2.35 EPS for the quarter, beating analysts’ consensus estimates of C$2.15 by C$0.20. Linamar had a net margin of 5.77% and a return on equity of 11.31%. The company had revenue of C$2.64 billion for the quarter, compared to analyst estimates of C$2.75 billion. Analysts expect that Linamar will post 11.4332724 EPS for the current year.

Insider Transactions at Linamar

In other Linamar news, insider Linamar Corporation acquired 15,000 shares of Linamar stock in a transaction on Monday, December 9th. The stock was purchased at an average price of C$63.01 per share, for a total transaction of C$945,097.50. Also, Director Linda Hasenfratz bought 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of C$60.01 per share, with a total value of C$3,000,500.00. Insiders bought a total of 90,101 shares of company stock worth $5,475,561 in the last quarter. 33.49% of the stock is currently owned by corporate insiders.

About Linamar

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.