TD Securities Downgrades Linamar (TSE:LNR) to Hold

TD Securities cut shares of Linamar (TSE:LNR) from a buy rating to a hold rating in a report released on Wednesday morning, Marketbeat reports. They currently have C$68.00 target price on the stock, down from their previous target price of C$89.00.

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

Linamar Stock Up 0.4 %

Shares of Linamar stock opened at C$61.23 on Wednesday. The firm’s 50 day moving average price is C$61.67 and its 200-day moving average price is C$64.93. 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 has a 52-week low of C$54.95 and a 52-week high of C$73.84. The company has a market cap of C$3.77 billion, a P/E ratio of 6.25, a PEG ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last released its earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, topping the consensus estimate of C$2.15 by C$0.20. The company had revenue of C$2.64 billion for the quarter, compared to the consensus estimate of C$2.75 billion. Linamar had a net margin of 5.77% and a return on equity of 11.31%. On average, sell-side analysts predict that Linamar will post 11.4332724 EPS for the current fiscal year.

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.