Linamar (TSE:LNR) Given New C$66.00 Price Target at TD Securities

Linamar (TSE:LNR) had its price objective reduced by equities researchers at TD Securities from C$68.00 to C$66.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ target price indicates a potential upside of 23.55% from the company’s previous close.

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

Linamar Stock Performance

TSE LNR traded up C$0.32 on Thursday, reaching C$53.42. 65,130 shares of the stock were exchanged, compared to its average volume of 137,846. The company has a current ratio of 1.79, a quick ratio of 0.75 and a debt-to-equity ratio of 42.84. Linamar has a one year low of C$51.55 and a one year high of C$73.84. The company’s 50-day simple moving average is C$57.32 and its two-hundred day simple moving average is C$60.51. The firm has a market capitalization of C$3.27 billion, a PE ratio of 5.58, a PEG ratio of 1.12 and a beta of 1.41.

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

Insider Buying and Selling

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

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.