TD Securities Issues Pessimistic Forecast for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its price target reduced by equities researchers at TD Securities from C$66.00 to C$60.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ target price indicates a potential upside of 17.83% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Raymond James reduced their price objective on shares of Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. BMO Capital Markets reduced their price target on shares of Linamar from C$75.00 to C$65.00 in a research note on Thursday. Finally, CIBC cut Linamar from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from C$82.00 to C$55.00 in a report on Wednesday.

Linamar Stock Up 0.4 %

LNR traded up C$0.18 during trading on Thursday, hitting C$50.92. The company had a trading volume of 174,241 shares, compared to its average volume of 162,465. The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75. The business has a 50-day moving average of C$55.29 and a 200-day moving average of C$59.31. Linamar has a 1-year low of C$47.17 and a 1-year high of C$73.84. The company has a market cap of C$3.12 billion, a PE ratio of 5.32, a P/E/G ratio of 1.12 and a beta of 1.41.

Insider Transactions at Linamar

In other Linamar news, Director Linda Hasenfratz purchased 50,000 shares of the stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of C$60.01 per share, for a total transaction of C$3,000,500.00. Also, insider Linamar Corporation acquired 15,000 shares of Linamar stock in a transaction that occurred on Monday, December 9th. The stock was acquired at an average cost of C$63.01 per share, with a total value of C$945,097.50. 33.49% of the stock is owned by 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.