CIBC Downgrades Linamar (TSE:LNR) to Neutral

Linamar (TSE:LNR) was downgraded by equities research analysts at CIBC from an “outperform” rating to a “neutral” rating in a report issued on Wednesday,BayStreet.CA reports. They currently have a C$55.00 price objective on the stock, down from their previous price objective of C$82.00. CIBC’s price objective points to a potential upside of 9.61% from the company’s current price.

A number of other analysts have also issued reports on LNR. TD Securities decreased their target price on shares of Linamar from C$68.00 to C$66.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Raymond James reduced their price target on shares of Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. Finally, BMO Capital Markets reduced their price target on shares of Linamar from C$80.00 to C$75.00 in a research report on Wednesday, November 13th.

Linamar Price Performance

Linamar stock traded up C$1.45 during mid-day trading on Wednesday, hitting C$50.18. 279,295 shares of the company were exchanged, compared to its average volume of 160,124. 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 company has a market capitalization of C$3.07 billion, a P/E ratio of 5.24, a PEG ratio of 1.12 and a beta of 1.41. Linamar has a 12-month low of C$48.38 and a 12-month high of C$73.84. The business’s 50 day simple moving average is C$55.46 and its two-hundred day simple moving average is C$59.41.

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 that occurred on Monday, December 16th. The stock was acquired at an average cost of C$60.01 per share, with a total value of C$3,000,500.00. Also, insider Linamar Corporation bought 15,000 shares of the stock in a transaction on Monday, December 9th. The shares were acquired at an average cost of C$63.01 per share, with a total value of C$945,097.50. 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.