Linamar (TSE:LNR) Stock Price Target Cut by Scotia

Linamar (TSE:LNR) had its price objective lowered by investment analysts at Scotia from C$111.00 to C$103.00 in a research note issued on Thursday, BayStreet reports. The firm presently has a “sector perform” rating on the stock. Scotia‘s target price would indicate a potential upside of 17.54% from the stock’s current price.

Several other brokerages also recently issued reports on LNR. Canadian Imperial Bank of Commerce lifted their price target on shares of Linamar from C$115.00 to C$120.00 in a report on Thursday, August 13th. Scotiabank upped their price objective on shares of Linamar from C$102.00 to C$114.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. BMO Capital Markets cut shares of Linamar from an “outperform” rating to a “hold” rating and set a C$105.00 price objective on the stock. in a research note on Friday, September 18th. Finally, TD dropped their price objective on shares of Linamar from C$123.00 to C$120.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Linamar currently has an average rating of “Hold” and an average price target of C$108.86.

Linamar Price Performance

Shares of TSE LNR traded down C$5.15 during midday trading on Thursday, reaching C$87.63. 237,672 shares of the company traded hands, compared to its average volume of 139,180. The firm has a market cap of C$5.17 billion, a PE ratio of 7.65, a PEG ratio of 1.12 and a beta of 1.62. The stock’s 50-day simple moving average is C$95.04 and its 200-day simple moving average is C$94.99. Linamar has a 12 month low of C$73.27 and a 12 month high of C$110.58. The company has a debt-to-equity ratio of 32.89, a quick ratio of 0.75 and a current ratio of 1.88.

Linamar (TSE:LNR) last posted its earnings results on Wednesday, November 4th. The company reported C$2.59 earnings per share for the quarter. Linamar had a net margin of 6.15% and a return on equity of 10.96%. The business had revenue of C$3.08 billion for the quarter. As a group, equities analysts anticipate that Linamar will post 11.43 earnings per share for the current fiscal year.

Insider Transactions at Linamar

In related news, Director Mark Stoddart sold 18,932 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$105.58, for a total transaction of C$1,998,840.56. Following the transaction, the director owned 455,914 shares in the company, valued at C$48,135,400.12. This represents a 3.99% decrease in their position. 33.49% of the stock is currently owned by company insiders.

Linamar Company Profile

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company’s Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.