Linamar (TSE:LNR) Downgraded by BMO Capital Markets to Market Perform

Linamar (TSE:LNR) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday, BayStreet reports. They presently have a C$105.00 target price on the stock. BMO Capital Markets’ price objective indicates a potential upside of 9.36% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. TD raised their price objective on Linamar from C$119.00 to C$123.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Canadian Imperial Bank of Commerce upped their target price on Linamar from C$115.00 to C$120.00 in a research note on Thursday, August 13th. Finally, Scotiabank raised their price target on 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. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Linamar presently has a consensus rating of “Hold” and an average target price of C$110.71.

Linamar Trading Down 3.6%

TSE LNR traded down C$3.58 during mid-day trading on Friday, reaching C$96.01. 122,844 shares of the stock were exchanged, compared to its average volume of 128,852. The stock has a market capitalization of C$5.66 billion, a PE ratio of 8.38, a PEG ratio of 1.12 and a beta of 1.62. 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 has a 1-year low of C$70.00 and a 1-year high of C$110.58. The business’s fifty day simple moving average is C$102.40 and its 200 day simple moving average is C$96.51.

Insiders Place Their Bets

In other Linamar news, Director Mark Stoddart sold 18,932 shares of Linamar stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of C$105.58, for a total value 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 trade represents a 3.99% decrease in their position. 33.49% of the stock is currently owned by corporate insiders.

About Linamar

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.