Linamar (TSE:LNR) Cut to Market Perform at BMO Capital Markets

BMO Capital Markets lowered shares of Linamar (TSE:LNR) from an outperform rating to a market perform rating in a research report released on Friday morning,BayStreet reports. The brokerage currently has C$105.00 price objective on the stock.

A number of other brokerages have also recently commented on LNR. Scotiabank lifted their price objective on shares of Linamar from C$102.00 to C$114.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. TD upped their target price on shares of Linamar from C$119.00 to C$123.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce increased their price target on shares of Linamar from C$115.00 to C$120.00 in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$110.71.

Linamar Stock Performance

LNR stock opened at C$96.20 on Friday. The firm has a fifty day moving average price of C$102.30 and a 200 day moving average price of C$96.52. Linamar has a fifty-two week low of C$70.00 and a fifty-two week high of C$110.58. The company has a debt-to-equity ratio of 32.89, a quick ratio of 0.75 and a current ratio of 1.88. The firm has a market cap of C$5.67 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

Insider Buying and Selling at Linamar

In other news, Director Mark Stoddart sold 18,932 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of C$105.58, for a total transaction of C$1,998,840.56. Following the completion of the sale, the director directly owned 455,914 shares of the company’s stock, valued at approximately C$48,135,400.12. The trade was a 3.99% decrease in their ownership of the stock. Company insiders own 33.49% of the company’s stock.

About Linamar

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company’s Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.