Linamar (TSE:LNR) Cut to Hold at Cibc World Mkts

Linamar (TSE:LNR) was downgraded by equities research analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms have also weighed in on LNR. Raymond James lowered their price objective on Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. BMO Capital Markets decreased their target price on Linamar from C$75.00 to C$65.00 in a research report on Thursday. TD Securities decreased their target price on Linamar from C$66.00 to C$60.00 and set a “hold” rating for the company in a research report on Thursday. Finally, CIBC lowered Linamar from an “outperform” rating to a “neutral” rating and decreased their target price for the company from C$82.00 to C$55.00 in a research report on Wednesday.

Linamar Stock Performance

LNR stock opened at C$51.65 on Wednesday. The stock has a 50-day moving average price of C$55.16 and a 200-day moving average price of C$59.23. Linamar has a 1-year low of C$47.17 and a 1-year high of C$73.84. The company has a current ratio of 1.79, a quick ratio of 0.75 and a debt-to-equity ratio of 42.84. The firm has a market cap of C$3.16 billion, a PE ratio of 5.39, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41.

Insider Buying and Selling at Linamar

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

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.