Linamar (TSE:LNR) Cut to "Sector Perform" at Scotiabank

Linamar (TSE:LNR - Get Free Report) was downgraded by research analysts at Scotiabank from an "outperform" rating to a "sector perform" rating in a research note issued on Tuesday, BayStreet.CA reports. They presently have a C$77.00 price target on the stock, down from their previous price target of C$86.00. Scotiabank's price objective would indicate a potential upside of 30.13% from the company's current price.

Other equities research analysts also recently issued reports about the company. TD Securities decreased their target price on Linamar from C$92.00 to C$89.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. BMO Capital Markets decreased their price objective on Linamar from C$90.00 to C$80.00 in a report on Friday, August 9th. Finally, CIBC reduced their target price on Linamar from C$92.00 to C$88.00 in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Linamar presently has a consensus rating of "Moderate Buy" and an average target price of C$81.60.

Linamar Stock Performance

Shares of TSE:LNR traded down C$2.31 during trading on Tuesday, reaching C$59.17. The stock had a trading volume of 418,174 shares, compared to its average volume of 91,648. Linamar has a 52 week low of C$56.78 and a 52 week high of C$73.84. The stock has a fifty day simple moving average of C$62.74 and a two-hundred day simple moving average of C$65.60. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32. The firm has a market capitalization of C$3.64 billion, a price-to-earnings ratio of 6.04, a P/E/G ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported C$3.06 EPS for the quarter, beating the consensus estimate 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%. As a group, analysts anticipate that Linamar will post 11.4332724 earnings per share for the current fiscal year.

Linamar Company Profile

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.