Linamar (TSE:LNR) Reaches New 1-Year Low – Time to Sell?

Linamar Co. (TSE:LNR) shares hit a new 52-week low during trading on Thursday . The company traded as low as C$48.00 and last traded at C$49.10, with a volume of 111075 shares changing hands. The stock had previously closed at C$51.74.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LNR shares. TD Securities lowered their price objective on Linamar from C$66.00 to C$60.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Cibc World Mkts downgraded Linamar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. CIBC lowered Linamar from an “outperform” rating to a “neutral” rating and dropped their price target for the company from C$82.00 to C$55.00 in a research note on Wednesday, March 5th. Finally, BMO Capital Markets reduced their price objective on shares of Linamar from C$75.00 to C$65.00 in a research report on Thursday, March 6th.

Linamar Price Performance

The business has a 50-day moving average of C$52.70 and a 200 day moving average of C$57.60. The firm has a market capitalization of C$2.91 billion, a P/E ratio of 4.96, a price-to-earnings-growth 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.

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.