CIBC downgraded shares of Linamar (TSE:LNR - Free Report) from an outperform rating to a neutral rating in a research note issued to investors on Wednesday morning,BayStreet.CA reports. CIBC currently has C$55.00 target price on the stock, down from their previous target price of C$82.00.
A number of other research firms have also issued reports on LNR. BMO Capital Markets lowered their target price on Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th. Raymond James lowered their target price on Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. Finally, TD Securities lowered their target price on Linamar from C$68.00 to C$66.00 and set a "hold" rating on the stock in a report on Thursday, February 13th.
Read Our Latest Stock Report on LNR
Linamar Stock Performance
LNR traded up C$1.60 during midday trading on Wednesday, reaching C$53.25. The company's stock had a trading volume of 211,172 shares, compared to its average volume of 165,708. The stock has a market cap of C$3.26 billion, a P/E ratio of 5.56, a PEG ratio of 1.12 and a beta of 1.41. The company has a fifty day simple moving average of C$55.05 and a 200 day simple moving average of C$59.16. The company has a current ratio of 1.79, a quick ratio of 0.75 and a debt-to-equity ratio of 42.84. Linamar has a twelve month low of C$47.17 and a twelve month high of C$73.84.
Insider Transactions at Linamar
In other news, insider Linamar Corporation acquired 15,000 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were bought at an average price 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 dated Monday, December 16th. The shares were purchased at an average cost of C$60.01 per share, for a total transaction of C$3,000,500.00. 33.49% of the stock is owned by insiders.
About Linamar
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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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