Linamar (TSE:LNR) Stock Moved Down to Hold by TD

Linamar (TSE:LNR) was downgraded by equities research analysts at TD from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, BayStreet reports. They presently have a C$106.00 price target on the stock, down from their previous price target of C$120.00. TD‘s target price would suggest a potential upside of 20.96% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets cut Linamar from an “outperform” rating to a “hold” rating and set a C$105.00 target price on the stock. in a research note on Friday, September 18th. Canadian Imperial Bank of Commerce lifted their price target on Linamar from C$115.00 to C$120.00 in a research note on Thursday, August 13th. Scotiabank upped their price objective on Linamar from C$102.00 to C$114.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. Finally, Scotia reduced their price objective on Linamar from C$111.00 to C$103.00 and set a “sector perform” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$108.86.

Linamar Price Performance

LNR stock traded down C$5.15 during midday trading on Thursday, reaching C$87.63. The company had a trading volume of 237,672 shares, compared to its average volume of 139,180. The firm has a 50-day moving average price of C$95.04 and a 200-day moving average price of C$94.99. The company has a market capitalization of C$5.17 billion, a P/E ratio of 7.65, a P/E/G ratio of 1.12 and a beta of 1.62. Linamar has a 1 year low of C$73.27 and a 1 year high of C$110.58. The company has a debt-to-equity ratio of 32.89, a current ratio of 1.88 and a quick ratio of 0.75.

Linamar (TSE:LNR) last posted its quarterly earnings data on Wednesday, November 4th. The company reported C$2.59 earnings per share for the quarter. Linamar had a net margin of 6.15% and a return on equity of 10.96%. The firm had revenue of C$3.08 billion for the quarter. On average, research analysts anticipate that Linamar will post 11.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Linamar 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 value 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 C$48,135,400.12. The trade was a 3.99% decrease in their ownership of the stock. 33.49% of the stock is currently owned by insiders.

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.