Linamar (TSE:LNR) Downgraded to Neutral Rating by CIBC

CIBC downgraded shares of Linamar (TSE:LNR) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday morning,BayStreet.CA reports. They currently have C$55.00 price target on the stock, down from their prior price target of C$82.00.

Several other research firms have also recently commented on LNR. TD Securities lowered their target price on Linamar from C$68.00 to C$66.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. BMO Capital Markets decreased their price target on Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th. Finally, Raymond James dropped their price objective on Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th.

Linamar Price Performance

LNR opened at C$53.25 on Wednesday. The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75. The stock has a market capitalization of C$3.26 billion, a P/E ratio of 5.56, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41. The company’s 50 day simple moving average is C$55.05 and its 200-day simple moving average is C$59.16. Linamar has a one year low of C$47.17 and a one year high of C$73.84.

Insider Buying and Selling at Linamar

In related news, insider Linamar Corporation acquired 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was acquired at an average cost of C$63.01 per share, with a total value of C$945,097.50. Also, Director Linda Hasenfratz bought 50,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was bought at an average cost of C$60.01 per share, for a total transaction of C$3,000,500.00. Corporate insiders own 33.49% of the company’s stock.

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.