Linamar (TSE:LNR) Price Target Lowered to C$66.00 at TD Securities

Linamar (TSE:LNR) had its price objective cut by TD Securities from C$68.00 to C$66.00 in a report published on Thursday,BayStreet.CA reports. They currently have a hold rating on the stock.

Several other research analysts have also weighed in on the stock. CIBC dropped their price objective on shares of Linamar from C$85.00 to C$82.00 in a research note on Monday. BMO Capital Markets dropped their price objective on shares of Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th. Raymond James dropped their price objective on shares of Linamar from C$74.00 to C$70.00 in a research note on Thursday, November 14th. Finally, Scotiabank lowered shares of Linamar from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$86.00 to C$77.00 in a research note on Tuesday, October 29th.

Linamar Stock Down 0.5 %

LNR stock opened at C$52.84 on Thursday. Linamar has a 52-week low of C$51.55 and a 52-week high of C$73.84. The company’s 50 day simple moving average is C$57.13 and its 200-day simple moving average is C$60.41. 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 firm has a market capitalization of C$3.23 billion, a P/E ratio of 5.52, a P/E/G ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last released its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.15 by C$0.20. Linamar had a net margin of 5.58% and a return on equity of 10.73%. The business had revenue of C$2.64 billion for the quarter, compared to analyst estimates of C$2.75 billion. As a group, equities research analysts anticipate that Linamar will post 11.4332724 EPS for the current year.

Insiders Place Their Bets

In other Linamar news, insider Linamar Corporation bought 25,101 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was bought at an average cost of C$60.95 per share, with a total value of C$1,529,963.68. Also, Director Linda Hasenfratz bought 50,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of C$60.01 per share, with a total value of C$3,000,500.00. Insiders acquired 90,101 shares of company stock valued at $5,475,561 over the last ninety days. 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.