CIBC Cuts Linamar (TSE:LNR) Price Target to C$82.00

Linamar (TSE:LNR) had its price objective cut by analysts at CIBC from C$85.00 to C$82.00 in a research report issued on Monday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 52.96% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Raymond James decreased their price target on shares of Linamar from C$74.00 to C$70.00 in a research note on Thursday, November 14th. Scotiabank cut Linamar from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$86.00 to C$77.00 in a research note on Tuesday, October 29th. BMO Capital Markets cut their price target on Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th. Finally, TD Securities lowered Linamar from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$89.00 to C$68.00 in a research report on Wednesday, November 13th.

Linamar Price Performance

Shares of LNR traded up C$0.95 during mid-day trading on Monday, reaching C$53.61. The company had a trading volume of 139,660 shares, compared to its average volume of 141,310. The company has a debt-to-equity ratio of 46.32, a current ratio of 1.68 and a quick ratio of 0.75. The company’s 50-day moving average is C$57.88 and its 200-day moving average is C$60.83. Linamar has a twelve month low of C$51.55 and a twelve month high of C$73.84. The company has a market capitalization of C$3.30 billion, a P/E ratio of 5.47, a P/E/G ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last posted 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 business had revenue of C$2.64 billion for the quarter, compared to analyst estimates of C$2.75 billion. Linamar had a net margin of 5.77% and a return on equity of 11.31%. On average, equities analysts anticipate that Linamar will post 11.4332724 EPS for the current year.

Insiders Place Their Bets

In related news, Director Linda Hasenfratz purchased 50,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were purchased at an average price 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 Linamar stock in a transaction that occurred on Monday, December 9th. The stock was bought at an average cost of C$63.01 per share, with a total value of C$945,097.50. Over the last quarter, insiders have purchased 90,101 shares of company stock worth $5,475,561. 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.