TD Securities Issues Pessimistic Forecast for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its price target cut by equities researchers at TD Securities from C$68.00 to C$66.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ price objective suggests a potential upside of 23.55% from the stock’s previous close.

Several other analysts have also recently commented on LNR. Raymond James dropped their price target on Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. BMO Capital Markets dropped their target price on shares of Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th. Scotiabank downgraded shares of Linamar from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$86.00 to C$77.00 in a research note on Tuesday, October 29th. Finally, CIBC cut their price objective on shares of Linamar from C$85.00 to C$82.00 in a report on Monday.

Linamar Price Performance

Shares of TSE:LNR traded up C$0.32 during midday trading on Thursday, reaching C$53.42. 65,130 shares of the company’s stock traded hands, compared to its average volume of 137,846. The company has a debt-to-equity ratio of 42.84, a quick ratio of 0.75 and a current ratio of 1.79. The company has a fifty day simple moving average of C$57.32 and a two-hundred day simple moving average of C$60.51. The company has a market cap of C$3.27 billion, a P/E ratio of 5.58, a PEG ratio of 1.12 and a beta of 1.41. Linamar has a 1 year low of C$51.55 and a 1 year high of C$73.84.

Linamar (TSE:LNR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported C$2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.15 by C$0.20. Linamar had a return on equity of 10.73% and a net margin of 5.58%. The company had revenue of C$2.64 billion for the quarter, compared to analysts’ expectations of C$2.75 billion. Equities analysts predict that Linamar will post 11.4332724 EPS for the current fiscal year.

Insider Activity at Linamar

In other news, insider Linamar Corporation purchased 15,000 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were bought at an average cost of C$63.01 per share, for a total transaction of C$945,097.50. Also, Director Linda Hasenfratz acquired 50,000 shares of the stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of C$60.01 per share, with a total value of C$3,000,500.00. Over the last quarter, insiders bought 90,101 shares of company stock valued at $5,475,561. 33.49% of the stock is 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.