Linamar (TSE:LNR) Hits New 1-Year Low – Should You Sell?

Linamar Co. (TSE:LNR)’s stock price reached a new 52-week low on Thursday . The stock traded as low as C$52.01 and last traded at C$52.30, with a volume of 33454 shares changing hands. The stock had previously closed at C$52.72.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LNR. Raymond James cut their price target on shares of Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. Scotiabank downgraded Linamar from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from C$86.00 to C$77.00 in a report on Tuesday, October 29th. CIBC cut their price objective on shares of Linamar from C$85.00 to C$82.00 in a research report on Monday, February 10th. BMO Capital Markets cut their price objective on shares of Linamar from C$80.00 to C$75.00 in a research report on Wednesday, November 13th. Finally, TD Securities cut their price objective on shares of Linamar from C$68.00 to C$66.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th.

Linamar Price Performance

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’s 50 day simple moving average is C$56.40 and its two-hundred day simple moving average is C$59.98. The stock has a market cap of C$3.22 billion, a price-to-earnings ratio of 5.49, a P/E/G ratio of 1.12 and a beta of 1.41.

Insider Activity at Linamar

In related news, Director Linda Hasenfratz purchased 50,000 shares of Linamar stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of C$60.01 per share, for a total transaction of C$3,000,500.00. Also, insider Linamar Corporation bought 15,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was purchased at an average price of C$63.01 per share, for a total transaction of C$945,097.50. Insiders acquired 90,101 shares of company stock valued at $5,475,561 over the last ninety days. 33.49% of the stock is owned by insiders.

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.