CIBC Issues Pessimistic Forecast for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its price objective reduced by equities researchers at CIBC from C$85.00 to C$84.00 in a research note issued to investors on Thursday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 40.28% from the stock’s previous close.

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

Linamar Price Performance

LNR stock opened at C$59.88 on Thursday. The firm has a market cap of C$3.69 billion, a P/E ratio of 6.11, a price-to-earnings-growth 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$54.95 and a 1 year high of C$73.84. The stock has a 50-day simple moving average of C$61.72 and a 200-day simple moving average of C$65.00.

Linamar (TSE:LNR) last released its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.15 by C$0.20. The firm had revenue of C$2.64 billion during the quarter, compared to analysts’ expectations 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 predict 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.