Linamar (TSE:LNR) Given New C$82.00 Price Target at CIBC

Linamar (TSE:LNR) had its price objective lowered by CIBC from C$85.00 to C$82.00 in a research report sent to investors on Monday,BayStreet.CA reports.

A number of other equities analysts also recently weighed in on the company. TD Securities downgraded Linamar from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$89.00 to C$68.00 in a research report on Wednesday, November 13th. Scotiabank downgraded Linamar from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$86.00 to C$77.00 in a report on Tuesday, October 29th. Raymond James cut their price objective on Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. Finally, BMO Capital Markets cut their price objective on Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th.

Linamar Trading Up 1.2 %

TSE:LNR opened at C$53.30 on Monday. Linamar has a twelve month low of C$51.55 and a twelve month high of C$73.84. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32. The business has a 50 day moving average price of C$57.70 and a two-hundred day moving average price of C$60.72. The company has a market cap of C$3.28 billion, a P/E ratio of 5.44, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last released its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share 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 firm had revenue of C$2.64 billion during the quarter, compared to the consensus estimate of C$2.75 billion. As a group, analysts expect that Linamar will post 11.4332724 EPS for the current fiscal year.

Insider Activity at Linamar

In other Linamar news, Director Linda Hasenfratz purchased 50,000 shares of the company’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, for a total transaction of C$3,000,500.00. Also, insider Linamar Corporation purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was acquired at an average price of C$63.01 per share, for a total transaction of C$945,097.50. In the last quarter, insiders have acquired 90,101 shares of company stock worth $5,475,561. Company 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.