Linamar (TSE:LNR) Hits New 12-Month Low – What’s Next?

Shares of Linamar Co. (TSE:LNR) reached a new 52-week low during mid-day trading on Monday . The company traded as low as C$51.55 and last traded at C$53.50, with a volume of 156375 shares. The stock had previously closed at C$56.54.

Wall Street Analyst Weigh In

Several analysts recently commented on LNR shares. TD Securities lowered Linamar from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$89.00 to C$68.00 in a report on Wednesday, November 13th. CIBC set a C$85.00 price target on shares of Linamar and gave the company an “outperform” rating in a research report on Monday, January 13th. Scotiabank lowered shares of Linamar from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$86.00 to C$77.00 in a research report on Tuesday, October 29th. Raymond James decreased their price target on shares of Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. Finally, 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.

Linamar Price Performance

The firm’s fifty day simple moving average is C$58.28 and its two-hundred day simple moving average is C$61.16. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32. The firm has a market cap of C$3.31 billion, a PE ratio of 5.49, a P/E/G ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last issued its earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, topping the consensus estimate of C$2.15 by C$0.20. The company had revenue of C$2.64 billion during the quarter, compared to the consensus estimate of C$2.75 billion. Linamar had a net margin of 5.77% and a return on equity of 11.31%. As a group, research analysts expect that Linamar Co. will post 11.4332724 EPS for the current year.

Insider Buying and Selling

In other news, Director Linda Hasenfratz acquired 50,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was purchased at an average price 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 Linamar stock in a transaction dated Monday, December 9th. The stock was purchased at an average cost of C$63.01 per share, for a total transaction of C$945,097.50. Over the last 90 days, insiders acquired 90,101 shares of company stock worth $5,475,561. 33.49% of the stock is owned by corporate 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.