Linamar (TSE:LNR) Hits New 12-Month Low After Analyst Downgrade

Linamar Co. (TSE:LNR) shares hit a new 52-week low during mid-day trading on Friday after TD Securities lowered their price target on the stock from C$68.00 to C$66.00. TD Securities currently has a hold rating on the stock. Linamar traded as low as C$52.63 and last traded at C$52.82, with a volume of 104330 shares. The stock had previously closed at C$52.84.

Other equities analysts have also issued reports about the stock. Scotiabank lowered shares of Linamar from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$86.00 to C$77.00 in a research report on Tuesday, October 29th. Raymond James lowered their price objective on shares of Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. CIBC lowered their price objective on shares of Linamar from C$85.00 to C$82.00 in a research report on Monday, February 10th. Finally, BMO Capital Markets reduced their target price on Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th.

Insider Buying and Selling at Linamar

In other news, Director Linda Hasenfratz purchased 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, with a total value of C$3,000,500.00. Also, insider Linamar Corporation purchased 15,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were purchased at an average cost of C$63.01 per share, with a total value of C$945,097.50. Over the last quarter, insiders acquired 90,101 shares of company stock valued at $5,475,561. 33.49% of the stock is owned by company insiders.

Linamar Stock Up 0.2 %

The firm has a market cap of C$3.24 billion, a price-to-earnings ratio of 5.53, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a current ratio of 1.79, a quick ratio of 0.75 and a debt-to-equity ratio of 42.84. The firm has a 50 day moving average price of C$56.96 and a 200-day moving average price of C$60.30.

Linamar (TSE:LNR) last announced its 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 net margin of 5.58% and a return on equity of 10.73%. The firm had revenue of C$2.64 billion during the quarter, compared to the consensus estimate of C$2.75 billion. On average, equities analysts forecast that Linamar Co. will post 11.4332724 EPS for the current year.

About Linamar

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.