Linamar (TSE:LNR) Rating Lowered to “Sector Perform” at Scotiabank

Linamar (TSE:LNR) was downgraded by analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued on Tuesday, BayStreet.CA reports. They currently have a C$77.00 price objective on the stock, down from their prior price objective of C$86.00. Scotiabank’s price objective points to a potential upside of 30.89% from the stock’s current price.

LNR has been the topic of several other research reports. TD Securities lowered their price target on shares of Linamar from C$92.00 to C$89.00 and set a “buy” rating on the stock in a report on Monday, September 30th. BMO Capital Markets reduced their price objective on shares of Linamar from C$90.00 to C$80.00 in a research report on Friday, August 9th. Finally, CIBC reduced their price objective on shares of Linamar from C$92.00 to C$88.00 in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$81.60.

Linamar Price Performance

Shares of TSE:LNR opened at C$58.83 on Tuesday. The company has a debt-to-equity ratio of 46.32, a current ratio of 1.68 and a quick ratio of 0.75. Linamar has a 1-year low of C$56.78 and a 1-year high of C$73.84. The company has a market capitalization of C$3.62 billion, a P/E ratio of 6.00, a P/E/G ratio of 1.12 and a beta of 1.41. The firm’s 50 day simple moving average is C$62.67 and its two-hundred day simple moving average is C$65.53.

Linamar (TSE:LNR) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$3.06 earnings per share for the quarter, beating the consensus estimate of C$2.70 by C$0.36. Linamar had a net margin of 5.77% and a return on equity of 11.31%. The business had revenue of C$2.85 billion for the quarter, compared to the consensus estimate of C$2.92 billion. Research analysts expect that Linamar will post 11.4332724 EPS for the current fiscal year.

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.