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

Linamar (TSE:LNR - Get Free Report) has been assigned a C$85.00 price target by CIBC in a report issued on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. CIBC's price objective indicates a potential upside of 53.62% from the company's previous close.

LNR has been the topic of several other reports. TD Securities cut shares of Linamar from a "buy" rating to a "hold" rating and cut their price target for the stock from C$89.00 to C$68.00 in a report on Wednesday, November 13th. BMO Capital Markets cut their target price on Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th. Scotiabank downgraded 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. Finally, Raymond James lowered their target price on Linamar from C$74.00 to C$70.00 in a research note on Thursday, November 14th.

Linamar Stock Up 1.0 %

LNR stock traded up C$0.55 during mid-day trading on Monday, reaching C$55.33. 87,787 shares of the company traded hands, compared to its average volume of 98,390. The stock has a market cap of C$3.41 billion, a price-to-earnings ratio of 5.65, a P/E/G ratio of 1.12 and a beta of 1.41. Linamar has a fifty-two week low of C$54.07 and a fifty-two week high of C$73.84. The firm's 50 day moving average price is C$59.16 and its 200 day moving average price is C$62.19. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32.

Linamar (TSE:LNR - Get Free Report) last announced its quarterly 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 return on equity of 11.31% and a net margin of 5.77%. The business had revenue of C$2.64 billion during the quarter, compared to the consensus estimate of C$2.75 billion. As a group, equities research analysts predict that Linamar will post 11.4332724 EPS for the current fiscal year.

Insider Activity at Linamar

In other Linamar news, Director Linda Hasenfratz purchased 50,000 shares of the stock in a transaction dated Monday, December 16th. The shares were bought at an average price of C$60.01 per share, with a total value of C$3,000,500.00. Also, insider Linamar Corporation acquired 15,000 shares of Linamar stock in a transaction that occurred 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. Over the last quarter, insiders have bought 90,101 shares of company stock worth $5,475,561. 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.