Linamar (TSE:LNR) Hits New 52-Week Low – Here’s Why

Shares of Linamar Co. (TSE:LNR) reached a new 52-week low during trading on Monday . The company traded as low as C$51.55 and last traded at C$53.50, with a volume of 156375 shares. The stock had previously closed at C$56.54.

Analyst Ratings Changes

A number of research firms recently weighed in on LNR. Scotiabank lowered shares of Linamar from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$86.00 to C$77.00 in a research report on Tuesday, October 29th. TD Securities lowered Linamar from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$89.00 to C$68.00 in a research note on Wednesday, November 13th. BMO Capital Markets reduced their target price on Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th. Raymond James cut their price target on shares of Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. Finally, CIBC set a C$85.00 price objective on shares of Linamar and gave the company an “outperform” rating in a report on Monday, January 13th.

Linamar Stock Up 0.0 %

The firm has a market cap of C$3.31 billion, a P/E ratio of 5.49, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 46.32. The business has a 50-day moving average price of C$58.28 and a 200-day moving average price of C$61.16.

Linamar (TSE:LNR) last issued its earnings results 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 net margin of 5.77% and a return on equity of 11.31%. The company had revenue of C$2.64 billion for the quarter, compared to analysts’ expectations of C$2.75 billion. On average, equities analysts forecast that Linamar Co. will post 11.4332724 EPS for the current fiscal year.

Insider Buying and Selling

In other Linamar news, insider Linamar Corporation acquired 15,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was purchased at an average price 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 stock was acquired at an average cost of C$60.01 per share, with a total value of C$3,000,500.00. Insiders acquired 90,101 shares of company stock valued at $5,475,561 over the last 90 days. Corporate insiders own 33.49% of the company’s stock.

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.