Linamar (TSE:LNR) Given New C$82.00 Price Target at CIBC

Linamar (TSE:LNR - Get Free Report) had its price target reduced by research analysts at CIBC from C$85.00 to C$82.00 in a research note issued on Monday,BayStreet.CA reports. CIBC's price objective indicates a potential upside of 52.30% from the company's previous close.

Several other research firms have also weighed in on LNR. BMO Capital Markets lowered their price target on Linamar from C$80.00 to C$75.00 in a research report on Wednesday, November 13th. Scotiabank downgraded shares of Linamar from an "outperform" rating to a "sector perform" rating and lowered their target price for the stock from C$86.00 to C$77.00 in a report on Tuesday, October 29th. Raymond James dropped their price target on shares of Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. Finally, TD Securities lowered shares of Linamar from a "buy" rating to a "hold" rating and lowered their price objective for the stock from C$89.00 to C$68.00 in a research note on Wednesday, November 13th.

Linamar Stock Up 1.0 %

Shares of LNR traded up C$0.54 during mid-day trading on Monday, hitting C$53.84. 133,517 shares of the company's stock were exchanged, compared to its average volume of 142,432. The company has a market cap of C$3.32 billion, a PE ratio of 5.49, a P/E/G ratio of 1.12 and a beta of 1.41. Linamar has a 52 week low of C$51.55 and a 52 week high of C$73.84. The company has a 50-day simple moving average of C$57.70 and a 200 day simple moving average of C$60.72. The company has a debt-to-equity ratio of 46.32, a current ratio of 1.68 and a quick ratio of 0.75.

Linamar (TSE:LNR - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported C$2.35 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 during the quarter, compared to the consensus estimate of C$2.75 billion. Linamar had a net margin of 5.77% and a return on equity of 11.31%. On average, research analysts forecast that Linamar 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 company's stock in a transaction that occurred on Monday, December 9th. The stock was acquired 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 the firm's stock in a transaction on Monday, December 16th. The stock was purchased at an average cost of C$60.01 per share, for a total transaction of C$3,000,500.00. In the last quarter, insiders have acquired 90,101 shares of company stock worth $5,475,561. Company insiders own 33.49% of the company's stock.

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.