Linamar (TSE:LNR) Cut to "Hold" at Cibc World Mkts

Cibc World Mkts lowered shares of Linamar (TSE:LNR - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also commented on LNR. TD Securities dropped their price target on shares of Linamar from C$66.00 to C$60.00 and set a "hold" rating on the stock in a research note on Thursday, March 6th. CIBC cut Linamar from an "outperform" rating to a "neutral" rating and lowered their target price for the company from C$82.00 to C$55.00 in a research report on Wednesday, March 5th. Raymond James reduced their price target on Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. Finally, BMO Capital Markets lowered their price target on Linamar from C$75.00 to C$65.00 in a report on Thursday, March 6th.

Linamar Stock Performance

Shares of Linamar stock traded down C$0.82 during trading on Wednesday, hitting C$51.23. 178,539 shares of the stock were exchanged, compared to its average volume of 165,252. The company has a debt-to-equity ratio of 42.84, a quick ratio of 0.75 and a current ratio of 1.79. Linamar has a 12 month low of C$47.17 and a 12 month high of C$73.84. The stock's fifty day moving average is C$54.88 and its 200 day moving average is C$59.02. The stock has a market cap of C$3.14 billion, a PE ratio of 5.35, a P/E/G ratio of 1.12 and a beta of 1.41.

Remove Ads

Insiders Place Their Bets

In other news, Director Linda Hasenfratz bought 50,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of C$60.01 per share, with a total value of C$3,000,500.00. 33.49% of the stock is currently owned by insiders.

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.