Linamar (TSE:LNR) Downgraded by BMO Capital Markets to "Market Perform"

Key Points

• BMO Capital Markets downgraded Linamar from “Outperform” to “Market Perform,” while maintaining a C$105 price target—implying 9.36% upside from the prior close.
• Analyst sentiment is mixed: Linamar has three Buy and four Hold ratings, resulting in an overall “Hold” consensus and an average target price of C$110.71.
• Linamar shares fell C$3.58 to C$96.01 in Friday trading. Separately, director Mark Stoddart sold 18,932 shares for approximately C$2.0 million, while insiders retain a 33.49% ownership stake.

Linamar (TSE:LNR - Get Free Report) was downgraded by BMO Capital Markets from an "outperform" rating to a "market perform" rating in a research note issued on Friday, BayStreet reports. They currently have a C$105.00 price target on the stock. BMO Capital Markets' target price indicates a potential upside of 9.36% from the company's previous close.

Several other research firms have also recently commented on LNR. Canadian Imperial Bank of Commerce upped their price target on Linamar from C$115.00 to C$120.00 in a research note on Thursday, August 13th. TD lifted their price objective on shares of Linamar from C$119.00 to C$123.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Finally, Scotiabank boosted their price objective on shares of Linamar from C$102.00 to C$114.00 and gave the company a "sector perform" rating in a research note on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of C$110.71.

Linamar Stock Performance

Shares of Linamar stock traded down C$3.58 during trading on Friday, reaching C$96.01. The company's stock had a trading volume of 122,844 shares, compared to its average volume of 128,852. The company has a 50-day moving average price of C$102.40 and a two-hundred day moving average price of C$96.51. Linamar has a fifty-two week low of C$70.00 and a fifty-two week high of C$110.58. The firm has a market cap of C$5.66 billion, a PE ratio of 8.38, a P/E/G ratio of 1.12 and a beta of 1.62. The company has a current ratio of 1.88, a quick ratio of 0.75 and a debt-to-equity ratio of 32.89.

Insider Buying and Selling

In other Linamar news, Director Mark Stoddart sold 18,932 shares of Linamar stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$105.58, for a total transaction of C$1,998,840.56. Following the completion of the transaction, the director owned 455,914 shares in the company, valued at approximately C$48,135,400.12. The trade was a 3.99% decrease in their ownership of the stock. Insiders own 33.49% of the company's stock.

Linamar Company Profile

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company's Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.

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