Linamar (TSE:LNR) Rating Lowered to “Neutral” at CIBC

Linamar (TSE:LNR) was downgraded by CIBC from an “outperform” rating to a “neutral” rating in a report released on Wednesday,BayStreet.CA reports. They presently have a C$55.00 price target on the stock, down from their previous price target of C$82.00. CIBC’s target price would indicate a potential upside of 9.61% from the stock’s previous close.

LNR has been the subject of several other research reports. TD Securities decreased their price target on shares of Linamar from C$68.00 to C$66.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Raymond James cut their target price on shares of Linamar from C$74.00 to C$70.00 in a research note on Thursday, November 14th. Finally, BMO Capital Markets dropped their price objective on shares of Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th.

Linamar Price Performance

Shares of Linamar stock traded up C$1.45 during trading on Wednesday, reaching C$50.18. 279,295 shares of the stock traded hands, 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. Linamar has a 52-week low of C$48.38 and a 52-week high of C$73.84. The business has a fifty day simple moving average of C$55.46 and a two-hundred day simple moving average of C$59.41. The company has a market capitalization of C$3.07 billion, a price-to-earnings ratio of 5.24, a P/E/G ratio of 1.12 and a beta of 1.41.

Insider Buying and Selling

In other Linamar news, insider Linamar Corporation bought 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were purchased at an average cost of C$63.01 per share, with a total value of C$945,097.50. Also, Director Linda Hasenfratz bought 50,000 shares of Linamar stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of C$60.01 per share, for a total transaction of C$3,000,500.00. 33.49% of the stock is currently owned by company 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.