Linamar (TSE:LNR) Given New C$120.00 Price Target at TD

Key Points

• TD lowered Linamar’s price target from C$123 to C$120 while maintaining a “buy” rating, implying 26.94% upside from the prior close.
• Analyst sentiment is mixed: three firms rate Linamar a Buy and four rate it Hold, resulting in a consensus “Hold” rating and an average price target of C$110.29.
• Linamar shares fell C$2.18 to C$94.53, below their 50-day moving average of C$100.58, while the company reported a C$5.58 billion market capitalization and a 8.25 price-to-earnings ratio.

Linamar (TSE:LNR - Get Free Report) had its price target lowered by analysts at TD from C$123.00 to C$120.00 in a research note issued on Thursday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. TD's price objective indicates a potential upside of 26.94% from the company's previous close.

Several other brokerages also recently commented on LNR. Scotiabank boosted their target price 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. BMO Capital Markets downgraded shares of Linamar from an "outperform" rating to a "hold" rating and set a C$105.00 price target for the company. in a report on Friday, September 18th. Finally, Canadian Imperial Bank of Commerce boosted their price target on shares of Linamar from C$115.00 to C$120.00 in a research report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Linamar has an average rating of "Hold" and a consensus price target of C$110.29.

Linamar Price Performance

TSE:LNR traded down C$2.18 during trading hours on Thursday, reaching C$94.53. The company had a trading volume of 105,620 shares, compared to its average volume of 132,753. The company has a quick ratio of 0.75, a current ratio of 1.88 and a debt-to-equity ratio of 32.89. The stock has a 50-day moving average of C$100.58 and a two-hundred day moving average of C$97.26. Linamar has a one year low of C$70.00 and a one year high of C$110.58. The firm has a market capitalization of C$5.58 billion, a PE ratio of 8.25, a PEG ratio of 1.12 and a beta of 1.62.

Insider Buying and Selling at Linamar

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

About Linamar

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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