Linamar (TSE:LNR) Given a C$85.00 Price Target at CIBC

CIBC set a C$85.00 price objective on Linamar (TSE:LNR) in a research report sent to investors on Monday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms also recently commented on LNR. TD Securities downgraded shares of Linamar from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$89.00 to C$68.00 in a report on Wednesday, November 13th. Scotiabank lowered 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 note on Tuesday, October 29th. Raymond James dropped their price objective on Linamar from C$74.00 to C$70.00 in a research note on Thursday, November 14th. Finally, BMO Capital Markets decreased their target price on Linamar from C$80.00 to C$75.00 in a research report on Wednesday, November 13th.

Linamar Price Performance

Shares of TSE:LNR opened at C$55.33 on Monday. Linamar has a 52 week low of C$54.07 and a 52 week high of C$73.84. The company has a 50-day moving average price of C$59.16 and a 200 day moving average price of C$62.19. The company has a market cap of C$3.41 billion, a P/E ratio of 5.65, a PEG ratio of 1.12 and a beta of 1.41. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32.

Linamar (TSE:LNR) last issued its 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. Linamar had a return on equity of 11.31% and a net margin of 5.77%. The business had revenue of C$2.64 billion during the quarter, compared to the consensus estimate of C$2.75 billion. Research analysts predict that Linamar will post 11.4332724 earnings per share for the current year.

Insider Activity

In related news, Director Linda Hasenfratz acquired 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 acquired 25,101 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average price of C$60.95 per share, with a total value of C$1,529,963.68. Insiders have acquired 90,101 shares of company stock worth $5,475,561 over the last ninety days. 33.49% of the stock is currently 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.