Linamar (TSE:LNR) Hits New 52-Week Low – What’s Next?

Shares of Linamar Co. (TSE:LNR) hit a new 52-week low on Wednesday . The company traded as low as C$54.88 and last traded at C$55.47, with a volume of 122825 shares trading hands. The stock had previously closed at C$57.21.

Wall Street Analysts Forecast Growth

LNR has been the subject of a number of research reports. CIBC decreased their target price on Linamar from C$85.00 to C$84.00 in a report on Thursday, November 14th. Scotiabank downgraded shares of Linamar from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$86.00 to C$77.00 in a research report on Tuesday, October 29th. BMO Capital Markets cut their price target on Linamar from C$80.00 to C$75.00 in a research report on Wednesday, November 13th. Raymond James decreased their price objective on Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. Finally, TD Securities lowered Linamar from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$89.00 to C$68.00 in a report on Wednesday, November 13th.

Linamar Stock Performance

The business’s 50-day simple moving average is C$59.22 and its two-hundred day simple moving average is C$62.35. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32. The firm has a market cap of C$3.37 billion, a price-to-earnings ratio of 5.59, a P/E/G 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 (EPS) for the quarter, topping analysts’ consensus estimates of C$2.15 by C$0.20. The company had revenue of C$2.64 billion for 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%. As a group, sell-side analysts expect that Linamar Co. will post 11.4332724 earnings per share for the current fiscal year.

Insider Activity at Linamar

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