CIBC Cuts Linamar (TSE:LNR) Price Target to C$82.00

Linamar (TSE:LNR) had its target price decreased by CIBC from C$85.00 to C$82.00 in a research note released on Monday morning,BayStreet.CA reports.

A number of other equities analysts have also recently weighed in on LNR. Scotiabank cut Linamar from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$86.00 to C$77.00 in a report on Tuesday, October 29th. TD Securities cut Linamar from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$89.00 to C$68.00 in a report on Wednesday, November 13th. BMO Capital Markets decreased their price objective on Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th. Finally, Raymond James decreased their price objective on Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th.

Linamar Stock Performance

TSE:LNR opened at C$53.10 on Monday. The business’s 50-day moving average price is C$57.32 and its two-hundred day moving average price is C$60.51. Linamar has a twelve month low of C$51.55 and a twelve month high of C$73.84. The stock has a market cap of C$3.27 billion, a P/E ratio of 5.42, a PEG ratio of 1.12 and a beta of 1.41. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32.

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

Insider Buying and Selling

In other Linamar news, insider Linamar Corporation acquired 25,101 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were purchased at an average cost of C$60.95 per share, for a total transaction of C$1,529,963.68. Also, Director Linda Hasenfratz acquired 50,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of C$60.01 per share, for a total transaction of C$3,000,500.00. Insiders have purchased a total of 90,101 shares of company stock worth $5,475,561 in the last ninety days. 33.49% of the stock is owned by 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.