Linamar (LNR) Price Target Increased to C$99.00 by Analysts at Scotiabank

Linamar (TSE:LNR) had its price target upped by research analysts at Scotiabank from C$96.00 to C$99.00 in a note issued to investors on Friday, March 9th. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 43.71% from the stock’s previous close.

A number of other brokerages have also commented on LNR. BMO Capital Markets decreased their price objective on Linamar from C$80.00 to C$74.00 in a report on Wednesday, February 21st. Royal Bank of Canada upped their price objective on Linamar from C$81.00 to C$82.00 and gave the company a “sector perform” rating in a research note on Monday, February 12th. Finally, CIBC upped their price objective on Linamar from C$81.00 to C$85.00 in a research note on Thursday, March 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of C$84.00.

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LNR traded down C$1.37 during midday trading on Friday, hitting C$68.89. 157,620 shares of the company were exchanged, compared to its average volume of 180,424. Linamar has a 1-year low of C$54.36 and a 1-year high of C$80.58.

Linamar (TSE:LNR) last announced its quarterly earnings data on Wednesday, March 7th. The company reported C$1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.82 by C($0.01). Linamar had a net margin of 6.92% and a return on equity of 14.62%. The business had revenue of C$1.57 billion during the quarter, compared to analyst estimates of C$1.55 billion.

In other news, Director William Harrison sold 600 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of C$73.18, for a total transaction of C$43,908.00.

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Linamar Company Profile

Linamar Corporation is a Canada-based diversified manufacturing company of engineered products powering vehicles, motion, work and lives. The Company operates through two segments: the Powertrain/Driveline and the Industrial. The segments are divided into four operating groups: Machining & Assembly, Light Metal Casting, Forging and Skyjack.

Analyst Recommendations for Linamar (TSE:LNR)

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