TD Securities Has Lowered Expectations for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its target price lowered by TD Securities from C$68.00 to C$66.00 in a report issued on Thursday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

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

Linamar Price Performance

Shares of Linamar stock opened at C$52.84 on Thursday. 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 fifty-two week low of C$51.55 and a fifty-two week high of C$73.84. The firm has a fifty day moving average price of C$57.13 and a two-hundred day moving average price of C$60.41. The company has a market cap of C$3.23 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.15 by C$0.20. Linamar had a net margin of 5.58% and a return on equity of 10.73%. The firm had revenue of C$2.64 billion during the quarter, compared to the consensus estimate of C$2.75 billion. Analysts expect that Linamar will post 11.4332724 EPS for the current year.

Insider Buying and Selling 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 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 bought 15,000 shares of the stock in a transaction dated Monday, December 9th. The stock was purchased at an average cost of C$63.01 per share, for a total transaction of C$945,097.50. Over the last three months, insiders purchased 90,101 shares of company stock valued at $5,475,561. 33.49% of the stock is currently 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.