Linamar (TSE:LNR) Hits New 52-Week Low After Analyst Downgrade

Linamar Co. (TSE:LNR) shares hit a new 52-week low on Friday after TD Securities lowered their price target on the stock from C$68.00 to C$66.00. TD Securities currently has a hold rating on the stock. Linamar traded as low as C$52.63 and last traded at C$52.82, with a volume of 104330 shares. The stock had previously closed at C$52.84.

Several other research analysts have also commented on the stock. Scotiabank lowered shares of Linamar from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$86.00 to C$77.00 in a report on Tuesday, October 29th. Raymond James reduced their target price on shares of Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. CIBC lowered their price target on Linamar from C$85.00 to C$82.00 in a report on Monday. Finally, BMO Capital Markets reduced their price objective on Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th.

Insider Transactions at Linamar

In other Linamar news, Director Linda Hasenfratz acquired 50,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were bought 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 15,000 shares of Linamar stock in a transaction dated Monday, December 9th. The shares were acquired at an average price of C$63.01 per share, with a total value of C$945,097.50. Over the last three months, insiders have bought 90,101 shares of company stock valued at $5,475,561. Corporate insiders own 33.49% of the company’s stock.

Linamar Stock Up 0.1 %

The stock has a market capitalization of C$3.24 billion, a price-to-earnings ratio of 5.52, a PEG ratio of 1.12 and a beta of 1.41. The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75. The firm’s fifty day moving average is C$57.13 and its 200-day moving average is C$60.41.

Linamar (TSE:LNR) last issued its earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.15 by C$0.20. The business had revenue of C$2.64 billion for the quarter, compared to analyst estimates of C$2.75 billion. Linamar had a net margin of 5.58% and a return on equity of 10.73%. On average, sell-side analysts predict that Linamar Co. will post 11.4332724 earnings per share for the current 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.