Linamar (TSE:LNR) Downgraded to Hold Rating by Cibc World Mkts

Cibc World Mkts downgraded shares of Linamar (TSE:LNR) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

LNR has been the subject of several other research reports. Raymond James reduced their price target on shares of Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. TD Securities reduced their price target on shares of Linamar from C$66.00 to C$60.00 and set a “hold” rating for the company in a research report on Thursday. CIBC downgraded shares of Linamar from an “outperform” rating to a “neutral” rating and reduced their price target for the company from C$82.00 to C$55.00 in a research report on Wednesday. Finally, BMO Capital Markets reduced their price target on shares of Linamar from C$75.00 to C$65.00 in a research report on Thursday.

Linamar Stock Up 1.8 %

Shares of TSE:LNR opened at C$51.65 on Wednesday. The firm has a 50 day simple moving average of C$55.16 and a 200-day simple moving average of C$59.23. Linamar has a twelve month low of C$47.17 and a twelve month high of C$73.84. The company has a market capitalization 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 current ratio of 1.79, a quick ratio of 0.75 and a debt-to-equity ratio of 42.84.

Insider Buying and Selling at Linamar

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