Linamar (TSE:LNR) PT Set at C$85.00 by CIBC

Linamar (TSE:LNR) received a C$85.00 price target from stock analysts at CIBC in a report issued on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 54.13% from the company’s current price.

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

Linamar Trading Up 0.7 %

Shares of TSE:LNR traded up C$0.37 during midday trading on Monday, hitting C$55.15. 37,971 shares of the stock were exchanged, compared to its average volume of 91,838. The stock has a market capitalization of C$3.40 billion, a price-to-earnings ratio of 5.63, a P/E/G ratio of 1.12 and a beta of 1.41. 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 business’s 50-day moving average price is C$59.18 and its 200 day moving average price is C$62.27. Linamar has a 12 month low of C$54.07 and a 12 month high of C$73.84.

Linamar (TSE:LNR) last announced its earnings results on Tuesday, November 12th. The company reported C$2.35 EPS 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 business had revenue of C$2.64 billion for the quarter, compared to analysts’ expectations of C$2.75 billion. Analysts predict that Linamar will post 11.4332724 earnings per share for the current year.

Insider Transactions at Linamar

In other news, Director Linda Hasenfratz bought 50,000 shares of the stock in a transaction dated Monday, December 16th. The shares were bought at an average cost of C$60.01 per share, with a total value of C$3,000,500.00. Also, insider Linamar Corporation bought 25,101 shares of the stock in a transaction dated Friday, November 29th. The shares were purchased at an average cost of C$60.95 per share, for a total transaction of C$1,529,963.68. Insiders have bought 90,101 shares of company stock valued at $5,475,561 over the last ninety days. 33.49% of the stock is owned by company 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.