CIBC Cuts Linamar (TSE:LNR) Price Target to C$84.00

Linamar (TSE:LNR) had its target price dropped by equities research analysts at CIBC from C$85.00 to C$84.00 in a research report issued on Thursday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 40.28% from the stock’s previous close.

Several other research analysts have also recently issued reports on LNR. Scotiabank cut Linamar from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$86.00 to C$77.00 in a research report on Tuesday, October 29th. TD Securities cut shares of Linamar from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$89.00 to C$68.00 in a research note on Wednesday. Finally, BMO Capital Markets decreased their price objective on shares of Linamar from C$80.00 to C$75.00 in a report on Wednesday.

Linamar Price Performance

Shares of LNR opened at C$59.88 on Thursday. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68. Linamar has a fifty-two week low of C$54.95 and a fifty-two week high of C$73.84. The firm has a 50-day simple moving average of C$61.72 and a 200-day simple moving average of C$65.00. The company has a market capitalization of C$3.69 billion, a price-to-earnings ratio of 6.11, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last issued its quarterly 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 firm had revenue of C$2.64 billion during the quarter, compared to the consensus estimate of C$2.75 billion. Linamar had a return on equity of 11.31% and a net margin of 5.77%. On average, equities research analysts anticipate that Linamar will post 11.4332724 earnings per share for the current year.

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.