Linamar (TSE:LNR) Given a C$85.00 Price Target at CIBC

CIBC set a C$85.00 price objective on Linamar (TSE:LNR) in a research note issued to investors on Monday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. TD Securities downgraded Linamar from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$89.00 to C$68.00 in a research report on Wednesday, November 13th. Scotiabank lowered shares of Linamar from an “outperform” rating to a “sector perform” rating and decreased their price target 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 objective on shares of Linamar from C$80.00 to C$75.00 in a research report on Wednesday, November 13th. Finally, Raymond James decreased their target price on shares of Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th.

Linamar Price Performance

Shares of LNR opened at C$56.46 on Monday. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68. The company has a 50 day moving average price of C$59.15 and a 200-day moving average price of C$62.10. Linamar has a fifty-two week low of C$54.07 and a fifty-two week high of C$73.84. The stock has a market capitalization of C$3.48 billion, a PE ratio of 5.76, a PEG ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last posted its earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.15 by C$0.20. Linamar had a return on equity of 11.31% and a net margin of 5.77%. The company had revenue of C$2.64 billion during the quarter, compared to analyst estimates of C$2.75 billion. Equities analysts predict that Linamar will post 11.4332724 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.