Linamar (TSE:LNR) Sets New 12-Month Low After Analyst Downgrade

Linamar Co. (TSE:LNR - Get Free Report) shares hit a new 52-week low on Friday after TD Securities lowered their price target on the stock from C$68.00 to C$66.00. TD Securities currently has a hold rating on the stock. Linamar traded as low as C$52.63 and last traded at C$52.82, with a volume of 104330 shares trading hands. The stock had previously closed at C$52.84.

A number of other equities research analysts have also recently weighed in on the company. BMO Capital Markets reduced their price objective on Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th. Raymond James reduced their price target on shares of Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. Scotiabank downgraded shares of Linamar from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from C$86.00 to C$77.00 in a research report on Tuesday, October 29th. Finally, CIBC reduced their target price on shares of Linamar from C$85.00 to C$82.00 in a report on Monday, February 10th.

Insider Activity at Linamar

In other news, insider Linamar Corporation acquired 15,000 shares of Linamar stock in a transaction that occurred on 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 bought 50,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were acquired at an average price of C$60.01 per share, for a total transaction of C$3,000,500.00. Insiders have bought a total of 90,101 shares of company stock worth $5,475,561 in the last three months. Insiders own 33.49% of the company's stock.

Linamar Trading Down 0.0 %

The company has a market cap of C$3.24 billion, a price-to-earnings ratio of 5.53, a P/E/G ratio of 1.12 and a beta of 1.41. The business has a fifty day simple moving average of C$56.59 and a 200 day simple moving average of C$60.09. The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84.

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.