Linamar (TSE:LNR) Lowered to Neutral Rating by CIBC

CIBC lowered shares of Linamar (TSE:LNR) from an outperform rating to a neutral rating in a research report released on Wednesday,BayStreet.CA reports. They currently have C$55.00 price target on the stock, down from their prior price target of C$82.00.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets decreased their target price on shares of Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th. TD Securities reduced their price objective on Linamar from C$68.00 to C$66.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Finally, Raymond James dropped their target price on Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th.

Linamar Trading Up 4.1 %

Shares of TSE:LNR opened at C$50.74 on Wednesday. The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75. Linamar has a 1 year low of C$48.38 and a 1 year high of C$73.84. The company has a market cap of C$3.11 billion, a P/E ratio of 5.30, a PEG ratio of 1.12 and a beta of 1.41. The stock’s fifty day moving average price is C$55.29 and its 200-day moving average price is C$59.31.

Insider Transactions at Linamar

In other Linamar news, insider Linamar Corporation purchased 15,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average cost of C$63.01 per share, with a total value of C$945,097.50. Also, Director Linda Hasenfratz acquired 50,000 shares of Linamar stock in a transaction dated Monday, December 16th. The shares were bought at an average price of C$60.01 per share, for a total transaction of C$3,000,500.00. Corporate insiders own 33.49% of the company’s stock.

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.