Linamar (TSE:LNR) Sets New 12-Month Low - Here's What Happened

Linamar Co. (TSE:LNR - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$54.07 and last traded at C$55.33, with a volume of 87787 shares traded. The stock had previously closed at C$54.78.

Wall Street Analyst Weigh In

Several research firms have issued reports on LNR. CIBC set a C$85.00 price objective on Linamar and gave the stock an "outperform" rating in a research note on Monday. BMO Capital Markets reduced their target price on Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th. TD Securities lowered Linamar from a "buy" rating to a "hold" rating and reduced their price objective for the stock from C$89.00 to C$68.00 in a research note on Wednesday, November 13th. Raymond James decreased their price objective on shares of Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. Finally, Scotiabank downgraded shares of Linamar from an "outperform" rating to a "sector perform" rating and dropped their target price for the stock from C$86.00 to C$77.00 in a research note on Tuesday, October 29th.

Linamar Trading Down 0.3 %

The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68. The firm's fifty day simple moving average is C$59.16 and its 200-day simple moving average is C$62.19. The stock has a market cap of C$3.40 billion, a P/E ratio of 5.63, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of C$2.75 billion. Equities research analysts expect that Linamar Co. will post 11.4332724 EPS for the current fiscal year.

Insider Activity

In other news, Director Linda Hasenfratz acquired 50,000 shares of the business's stock in a transaction dated 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. Also, insider Linamar Corporation bought 25,101 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was purchased at an average price of C$60.95 per share, with a total value of C$1,529,963.68. Insiders have bought 90,101 shares of company stock valued at $5,475,561 in the last 90 days. 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.