Linamar (TSE:LNR) Price Target Cut to C$85.00 by Analysts at CIBC

Linamar (TSE:LNR - Get Free Report) had its price objective dropped by investment analysts at CIBC from C$88.00 to C$85.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC's target price points to a potential upside of 44.21% from the company's current price.

Other equities analysts have also issued research reports about the stock. Scotiabank lowered shares of Linamar from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from C$86.00 to C$77.00 in a report on Tuesday, October 29th. BMO Capital Markets dropped their price objective on shares of Linamar from C$90.00 to C$80.00 in a research note on Friday, August 9th. Finally, TD Securities lowered their target price on Linamar from C$92.00 to C$89.00 and set a "buy" rating for the company in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Linamar has an average rating of "Moderate Buy" and an average target price of C$81.00.

Linamar Trading Up 0.6 %

Linamar stock traded up C$0.37 during midday trading on Friday, reaching C$58.94. The stock had a trading volume of 44,237 shares, compared to its average volume of 97,527. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68. Linamar has a twelve month low of C$54.95 and a twelve month high of C$73.84. The stock has a market capitalization of C$3.63 billion, a PE ratio of 6.02, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41. The stock's 50-day simple moving average is C$61.99 and its 200 day simple moving average is C$65.17.

Linamar (TSE:LNR - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$3.06 earnings per share for the quarter, topping analysts' consensus estimates of C$2.70 by C$0.36. The firm had revenue of C$2.85 billion during the quarter, compared to analysts' expectations of C$2.92 billion. Linamar had a net margin of 5.77% and a return on equity of 11.31%. Analysts expect that Linamar will post 11.4332724 EPS for the current year.

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.

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