Linamar (TSE:LNR) Price Target Cut to C$82.00 by Analysts at CIBC

Linamar (TSE:LNR) had its price target decreased by equities research analysts at CIBC from C$85.00 to C$82.00 in a report issued on Monday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 52.30% from the stock’s previous close.

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

Linamar Trading Up 1.0 %

TSE:LNR opened at C$53.84 on Monday. The stock has a market cap of C$3.32 billion, a price-to-earnings ratio of 5.49, a PEG ratio of 1.12 and a beta of 1.41. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68. Linamar has a 1 year low of C$51.55 and a 1 year high of C$73.84. The business has a fifty day moving average of C$57.52 and a 200-day moving average of C$60.62.

Linamar (TSE:LNR) last released its earnings results on Tuesday, November 12th. The company reported C$2.35 EPS for the quarter, beating the consensus estimate 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 firm had revenue of C$2.64 billion for the quarter, compared to analysts’ expectations of C$2.75 billion. Equities analysts predict that Linamar will post 11.4332724 earnings per share for the current year.

Insider Activity at Linamar

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

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.