Linamar (TSE:LNR) Cut to Hold at Cibc World Mkts

Cibc World Mkts cut shares of Linamar (TSE:LNR) from a strong-buy rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on LNR. BMO Capital Markets lowered their price objective on shares of Linamar from C$75.00 to C$65.00 in a research note on Thursday. TD Securities lowered their price target on shares of Linamar from C$66.00 to C$60.00 and set a “hold” rating on the stock in a research report on Thursday. CIBC cut shares of Linamar from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from C$82.00 to C$55.00 in a research note on Wednesday. Finally, Raymond James reduced their target price on Linamar from C$74.00 to C$70.00 in a research note on Thursday, November 14th.

Linamar Stock Up 3.1 %

LNR opened at C$53.25 on Wednesday. Linamar has a one year low of C$47.17 and a one year high of C$73.84. The company has a market cap of C$3.26 billion, a price-to-earnings ratio of 5.56, a PEG ratio of 1.12 and a beta of 1.41. The business’s fifty day moving average is C$55.05 and its two-hundred day moving average is C$59.16. The company has a debt-to-equity ratio of 42.84, a quick ratio of 0.75 and a current ratio of 1.79.

Insider Buying and Selling at Linamar

In other Linamar news, Director Linda Hasenfratz purchased 50,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was 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 acquired 15,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were acquired at an average price of C$63.01 per share, for a total transaction of C$945,097.50. 33.49% of the stock is owned by insiders.

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.