Linamar (TSE:LNR) Cut to Hold at TD Securities

TD Securities cut shares of Linamar (TSE:LNR) from a buy rating to a hold rating in a research report released on Wednesday, MarketBeat.com reports. TD Securities currently has C$68.00 price objective on the stock, down from their previous price objective of C$89.00.

Several other research firms also recently commented on LNR. BMO Capital Markets dropped their price objective on shares of Linamar from C$80.00 to C$75.00 in a report on Wednesday. CIBC cut their price objective on shares of Linamar from C$88.00 to C$85.00 in a report on Friday, November 8th. Finally, Scotiabank lowered shares of Linamar from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$86.00 to C$77.00 in a research note on Tuesday, October 29th.

Linamar Stock Up 0.4 %

LNR opened at C$61.23 on Wednesday. Linamar has a twelve month low of C$54.95 and a twelve month high of C$73.84. The company’s 50-day moving average price is C$61.67 and its two-hundred day moving average price is C$64.93. The stock has a market cap of C$3.77 billion, a price-to-earnings ratio of 6.25, a PEG ratio of 1.12 and a beta of 1.41. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32.

Linamar (TSE:LNR) last posted its quarterly earnings data 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. The business had revenue of C$2.64 billion for 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%. As a group, equities analysts expect that Linamar will post 11.4332724 earnings per share for the current 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.