TD Securities Downgrades Linamar (TSE:LNR) to Hold

Linamar (TSE:LNR) was downgraded by stock analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$68.00 price objective on the stock, down from their prior price objective of C$89.00. TD Securities’ price target suggests a potential upside of 11.51% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. BMO Capital Markets cut their price objective on shares of Linamar from C$80.00 to C$75.00 in a research report on Wednesday. CIBC dropped their price target on Linamar from C$88.00 to C$85.00 in a research note on Friday, November 8th. Finally, Scotiabank cut Linamar from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$86.00 to C$77.00 in a research note on Tuesday, October 29th.

Linamar Stock Up 1.8 %

Shares of Linamar stock opened at C$60.98 on Wednesday. The stock’s 50-day moving average is C$61.68 and its 200 day moving average is C$64.97. Linamar has a one year low of C$54.95 and a one year high of C$73.84. The firm has a market cap of C$3.76 billion, a price-to-earnings ratio of 6.22, a PEG ratio of 1.12 and a beta of 1.41. 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 (TSE:LNR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.15 by C$0.20. The firm had revenue of C$2.64 billion for the quarter, compared to analysts’ expectations of C$2.75 billion. Linamar had a return on equity of 11.31% and a net margin of 5.77%. Equities research analysts anticipate that Linamar 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.