Linamar (TSE:LNR) Price Target Lowered to C$84.00 at CIBC

Linamar (TSE:LNR) had its target price decreased by equities researchers at CIBC from C$85.00 to C$84.00 in a note issued to investors on Thursday,BayStreet.CA reports. CIBC’s price objective points to a potential upside of 37.19% from the stock’s current price.

A number of other analysts also recently commented on the stock. Scotiabank downgraded shares of Linamar from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$86.00 to C$77.00 in a report on Tuesday, October 29th. BMO Capital Markets dropped their price objective on Linamar from C$80.00 to C$75.00 in a research note on Wednesday. Finally, TD Securities downgraded Linamar from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$89.00 to C$68.00 in a research report on Wednesday.

Linamar Stock Up 0.4 %

LNR opened at C$61.23 on Thursday. The company has a debt-to-equity ratio of 46.32, a current ratio of 1.68 and a quick ratio of 0.75. Linamar has a 12 month low of C$54.95 and a 12 month high of C$73.84. The stock has a market capitalization of C$3.77 billion, a P/E ratio of 6.25, a P/E/G ratio of 1.12 and a beta of 1.41. The business has a 50 day simple moving average of C$61.67 and a 200-day simple moving average of C$64.93.

Linamar (TSE:LNR) last released its earnings results 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. The company had revenue of C$2.64 billion during the quarter, compared to the consensus estimate of C$2.75 billion. Linamar had a return on equity of 11.31% and a net margin of 5.77%. On average, equities analysts anticipate that Linamar will post 11.4332724 earnings per share for the current fiscal year.

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.