Linamar (TSE:LNR) Given New C$115.00 Price Target at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Linamar to C$115 from C$110, implying about 13.3% upside from the stock’s current price.
• Analyst sentiment remains mixed but constructive: Linamar has three Buy ratings and three Hold ratings, with a consensus view of Moderate Buy and an average target price of C$103.29.
• Linamar shares were up 1.6% to C$101.49, and the company recently reported C$3.28 EPS on C$2.94 billion in revenue for the quarter.

Linamar (TSE:LNR - Get Free Report) had its price objective upped by equities researchers at Canadian Imperial Bank of Commerce from C$110.00 to C$115.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price target indicates a potential upside of 13.31% from the stock's current price.

LNR has been the topic of several other reports. Scotiabank reduced their price target on Linamar from C$99.00 to C$96.00 and set a "sector perform" rating on the stock in a research note on Friday, April 24th. Scotia raised their price objective on Linamar from C$96.00 to C$99.00 and gave the company a "sector perform" rating in a research report on Thursday, May 7th. TD boosted their target price on shares of Linamar from C$116.00 to C$119.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, Raymond James Financial upped their target price on shares of Linamar from C$90.00 to C$100.00 and gave the stock a "market perform" rating in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$103.29.

Linamar Stock Up 1.6%

Linamar stock traded up C$1.60 during trading hours on Tuesday, hitting C$101.49. 76,393 shares of the stock traded hands, compared to its average volume of 123,461. The firm's 50-day moving average price is C$99.62 and its two-hundred day moving average price is C$91.77. The company has a current ratio of 1.50, a quick ratio of 0.75 and a debt-to-equity ratio of 35.07. The company has a market cap of C$6.01 billion, a PE ratio of 9.67, a PEG ratio of 1.12 and a beta of 1.72. Linamar has a one year low of C$65.60 and a one year high of C$107.12.

Linamar (TSE:LNR - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported C$3.28 earnings per share (EPS) for the quarter. The firm had revenue of C$2.94 billion during the quarter. Linamar had a return on equity of 10.37% and a net margin of 5.90%. On average, research analysts forecast that Linamar will post 11.4332724 EPS for the current year.

Insider Buying and Selling at Linamar

In related news, insider Csaba Havasi sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$97.47, for a total transaction of C$292,410.00. Following the completion of the transaction, the insider owned 71,543 shares of the company's stock, valued at C$6,973,296.21. This trade represents a 4.02% decrease in their position. 33.49% of the stock is owned by insiders.

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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