Linamar (TSE:LNR) Stock Gets Price Target Trim from TD

Linamar (TSE:LNR) had its price objective cut by TD from C$123.00 to C$120.00 in a research report released on Thursday,BayStreet reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on LNR. Canadian Imperial Bank of Commerce raised their target price on shares of Linamar from C$115.00 to C$120.00 in a report on Thursday, August 13th. Scotiabank increased their price target on Linamar from C$102.00 to C$114.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Finally, BMO Capital Markets downgraded Linamar from an “outperform” rating to a “hold” rating and set a C$105.00 price target on the stock. in a research note on Friday, September 18th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$110.29.

Linamar Price Performance

LNR opened at C$93.64 on Thursday. The firm has a 50-day moving average price of C$100.18 and a 200-day moving average price of C$97.32. The company has a market capitalization of C$5.52 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 1.12 and a beta of 1.62. Linamar has a twelve month low of C$70.00 and a twelve month high of C$110.58. The company has a quick ratio of 0.75, a current ratio of 1.88 and a debt-to-equity ratio of 32.89.

Insider Activity at Linamar

In other news, Director Mark Stoddart sold 18,932 shares of Linamar stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$105.58, for a total value of C$1,998,840.56. Following the completion of the transaction, the director owned 455,914 shares in the company, valued at approximately C$48,135,400.12. The trade was a 3.99% decrease in their position. Insiders own 33.49% of the company’s stock.

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.