Linamar (TSE:LNR) PT Set at C$85.00 by CIBC

Linamar (TSE:LNR) received a C$85.00 target price from investment analysts at CIBC in a research report issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price objective suggests a potential upside of 53.60% from the company’s previous close.

LNR has been the subject of several other reports. Scotiabank downgraded Linamar from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from C$86.00 to C$77.00 in a research note on Tuesday, October 29th. Raymond James reduced their price objective on shares of Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. TD Securities downgraded shares of Linamar from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$89.00 to C$68.00 in a report on Wednesday, November 13th. Finally, BMO Capital Markets cut their target price on shares of Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th.

Linamar Stock Performance

Shares of LNR stock opened at C$55.34 on Monday. The company has a fifty day moving average price of C$59.16 and a two-hundred day moving average price of C$62.19. Linamar has a one year low of C$54.07 and a one year high of C$73.84. The stock has a market cap of C$3.41 billion, a P/E ratio of 5.65, a P/E/G 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 issued its earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.15 by C$0.20. Linamar had a net margin of 5.77% and a return on equity of 11.31%. The business had revenue of C$2.64 billion during the quarter, compared to the consensus estimate of C$2.75 billion. As a group, equities analysts predict that Linamar will post 11.4332724 EPS for the current year.

Insider Buying and Selling at Linamar

In other Linamar news, Director Linda Hasenfratz bought 50,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were purchased 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 dated Monday, December 9th. The stock was acquired at an average price of C$63.01 per share, with a total value of C$945,097.50. Insiders have bought a total of 90,101 shares of company stock valued at $5,475,561 in the last ninety days. 33.49% of the stock is currently owned by corporate insiders.

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.