Linamar (TSE:LNR) Stock Rating Lowered by Cibc World Mkts

Linamar (TSE:LNR) was downgraded by research analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. TD Securities reduced their target price on Linamar from C$66.00 to C$60.00 and set a “hold” rating for the company in a report on Thursday. CIBC lowered Linamar from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from C$82.00 to C$55.00 in a report on Wednesday. Raymond James reduced their price objective on Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. Finally, BMO Capital Markets reduced their price objective on Linamar from C$75.00 to C$65.00 in a report on Thursday.

Linamar Stock Performance

LNR stock opened at C$51.65 on Wednesday. The firm has a market cap of C$3.16 billion, a PE ratio of 5.39, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84. The business has a 50 day moving average of C$55.16 and a 200-day moving average of C$59.23. Linamar has a 12-month low of C$47.17 and a 12-month high of C$73.84.

Insiders Place Their Bets

In other Linamar news, insider Linamar Corporation acquired 15,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average price of C$63.01 per share, for a total transaction of C$945,097.50. Also, Director Linda Hasenfratz acquired 50,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average price of C$60.01 per share, for a total transaction of C$3,000,500.00. Company insiders own 33.49% of the company’s stock.

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.