CIBC Has Lowered Expectations for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its price target reduced by CIBC from C$85.00 to C$82.00 in a report published on Monday,BayStreet.CA reports.

A number of other research analysts have also recently issued reports on the company. TD Securities cut Linamar from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$89.00 to C$68.00 in a research note on Wednesday, November 13th. BMO Capital Markets lowered their price objective on Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th. Raymond James lowered their price objective on Linamar from C$74.00 to C$70.00 in a research note on Thursday, November 14th. Finally, Scotiabank cut Linamar from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$86.00 to C$77.00 in a research note on Tuesday, October 29th.

Linamar Trading Down 1.4 %

TSE LNR opened at C$53.10 on Monday. 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 has a twelve month low of C$51.55 and a twelve month high of C$73.84. The firm has a market capitalization of C$3.27 billion, a PE ratio of 5.42, a P/E/G ratio of 1.12 and a beta of 1.41. The stock’s 50 day moving average is C$57.32 and its 200 day moving average is C$60.51.

Linamar (TSE:LNR) last released its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, beating 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 company had revenue of C$2.64 billion for the quarter, compared to analyst estimates of C$2.75 billion. Research analysts forecast that Linamar will post 11.4332724 earnings per share for the current fiscal year.

Insider Transactions at Linamar

In other Linamar news, insider Linamar Corporation purchased 15,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was purchased at an average price of C$63.01 per share, for a total transaction of C$945,097.50. Also, Director Linda Hasenfratz purchased 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of C$60.01 per share, with a total value of C$3,000,500.00. Insiders acquired 90,101 shares of company stock worth $5,475,561 over the last quarter. 33.49% of the stock is currently owned by insiders.

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.