Linamar (TSE:LNR) Price Target Cut to C$103.00 by Analysts at Scotia

Key Points

• Scotia cut Linamar’s price target to C$103 from C$111 and maintained a “sector perform” rating, implying 17.54% upside from the share price at the time.
• Analyst sentiment is mostly neutral: Linamar has an average “Hold” rating and a consensus target of C$108.86, with two Buy and five Hold ratings reported.
• Linamar shares fell C$5.15 to C$87.63 during Thursday trading. The company reported quarterly EPS of C$2.59 and revenue of C$3.08 billion.

Linamar (TSE:LNR - Get Free Report) had its price target decreased by equities researchers at Scotia from C$111.00 to C$103.00 in a report released on Thursday, BayStreet reports. The firm currently has a "sector perform" rating on the stock. Scotia's price target suggests a potential upside of 17.54% from the company's current price.

A number of other research firms also recently weighed in on LNR. BMO Capital Markets downgraded Linamar from an "outperform" rating to a "hold" rating and set a C$105.00 target price on the stock. in a research report on Friday, September 18th. TD lowered their price target on Linamar from C$123.00 to C$120.00 and set a "buy" rating on the stock in a research note on Thursday, October 8th. Scotiabank upped their price target on Linamar from C$102.00 to C$114.00 and gave the company a "sector perform" rating in a report on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce raised their price objective on Linamar from C$115.00 to C$120.00 in a research report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Linamar currently has an average rating of "Hold" and a consensus target price of C$108.86.

Linamar Stock Performance

TSE LNR traded down C$5.15 during midday trading on Thursday, hitting C$87.63. The company had a trading volume of 237,672 shares, compared to its average volume of 139,180. 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 market cap of C$5.17 billion, a price-to-earnings ratio of 7.65, a P/E/G ratio of 1.12 and a beta of 1.62. The firm has a fifty day simple moving average of C$95.04 and a two-hundred day simple moving average of C$94.99. Linamar has a fifty-two week low of C$73.27 and a fifty-two week high of C$110.58.

Linamar (TSE:LNR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported C$2.59 earnings per share (EPS) for the quarter. The company had revenue of C$3.08 billion for the quarter. Linamar had a net margin of 6.15% and a return on equity of 10.96%. Equities analysts forecast that Linamar will post 11.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Linamar news, Director Mark Stoddart sold 18,932 shares of Linamar stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$105.58, for a total transaction of C$1,998,840.56. Following the sale, the director directly owned 455,914 shares of the company's stock, 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.