Linamar (TSE:LNR) Reaches New 12-Month Low – Time to Sell?

Linamar Co. (TSE:LNR)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as C$52.01 and last traded at C$52.30, with a volume of 33454 shares trading hands. The stock had previously closed at C$52.72.

Analysts Set New Price Targets

Several research firms have commented on LNR. Scotiabank downgraded Linamar from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from C$86.00 to C$77.00 in a research report on Tuesday, October 29th. BMO Capital Markets dropped their target price on Linamar from C$80.00 to C$75.00 in a research report on Wednesday, November 13th. Raymond James dropped their target price on Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. CIBC decreased their price target on Linamar from C$85.00 to C$82.00 in a research note on Monday, February 10th. Finally, TD Securities decreased their price target on Linamar from C$68.00 to C$66.00 and set a “hold” rating for the company in a research note on Thursday, February 13th.

Linamar Stock Down 0.2 %

The stock has a market cap of C$3.22 billion, a price-to-earnings ratio of 5.49, a PEG ratio of 1.12 and a beta of 1.41. The stock has a 50 day simple moving average of C$56.40 and a 200 day simple moving average of C$59.98. The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84.

Insider Activity at Linamar

In other Linamar news, Director Linda Hasenfratz purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of C$60.01 per share, with a total value of C$3,000,500.00. Also, insider Linamar Corporation purchased 25,101 shares of the business’s stock in a transaction on Friday, November 29th. The shares were bought at an average price of C$60.95 per share, with a total value of C$1,529,963.68. In the last 90 days, insiders acquired 90,101 shares of company stock valued at $5,475,561. 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.