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

Linamar Co. (TSE:LNR)’s share price hit a new 52-week low on Thursday . The company 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.

Analysts Set New Price Targets

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

Linamar Stock Performance

The company has a market capitalization of C$3.18 billion, a PE ratio of 5.43, a PEG ratio of 1.12 and a beta of 1.41. The company has a current ratio of 1.79, a quick ratio of 0.75 and a debt-to-equity ratio of 42.84. The firm’s 50-day simple moving average is C$56.05 and its 200-day simple moving average is C$59.80.

Insider Buying and Selling at Linamar

In related news, insider Linamar Corporation purchased 25,101 shares of the business’s stock in a transaction on Friday, November 29th. The shares were acquired at an average price of C$60.95 per share, for a total transaction of C$1,529,963.68. Also, Director Linda Hasenfratz purchased 50,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were bought at an average price of C$60.01 per share, for a total transaction of C$3,000,500.00. Insiders purchased a total of 90,101 shares of company stock valued at $5,475,561 in the last three months. Company insiders own 33.49% of the company’s stock.

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.