TD Securities Issues Pessimistic Forecast for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its price target cut by TD Securities from C$68.00 to C$66.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ price target points to a potential upside of 24.60% from the company’s current price.

A number of other equities research analysts also recently weighed in on LNR. Raymond James dropped their price target on shares of Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. CIBC dropped their price objective on Linamar from C$85.00 to C$82.00 in a report on Monday, February 10th. BMO Capital Markets cut their target price on Linamar from C$80.00 to C$75.00 in a research report on Wednesday, November 13th. Finally, Scotiabank cut Linamar from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$86.00 to C$77.00 in a research report on Tuesday, October 29th.

Linamar Stock Performance

Shares of TSE LNR opened at C$52.97 on Thursday. The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75. 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 stock’s fifty day moving average price is C$56.96 and its two-hundred day moving average price is C$60.30. Linamar has a one year low of C$51.55 and a one year high of C$73.84.

Linamar (TSE:LNR) last issued its quarterly earnings data on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, topping 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 business had revenue of C$2.64 billion during the quarter, compared to analysts’ expectations of C$2.75 billion. On average, equities analysts forecast that Linamar will post 11.4332724 EPS for the current year.

Insiders Place Their Bets

In related news, Director Linda Hasenfratz purchased 50,000 shares of Linamar stock in a transaction dated Monday, December 16th. The shares were bought at an average cost of C$60.01 per share, for a total transaction of C$3,000,500.00. Also, insider Linamar Corporation purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average cost of C$63.01 per share, for a total transaction of C$945,097.50. Insiders acquired 90,101 shares of company stock worth $5,475,561 over the last three months. Insiders own 33.49% of the company’s stock.

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.