Linamar (TSE:LNR) Given New C$80.00 Price Target at BMO Capital Markets

Key Points

• Linamar's price target has been increased by BMO Capital Markets from C$75.00 to C$80.00, indicating a potential upside of 10.82% from the previous close.
• Other brokerages, including CIBC and Scotiabank, have also raised their price objectives for Linamar, with varying ratings and targets.
• Linamar's shares recently dropped 1.5%, trading at C$72.19, reflecting its market volatility despite a favorable market cap of C$4.42 billion.

Linamar (TSE:LNR - Get Free Report) had its price target raised by stock analysts at BMO Capital Markets from C$75.00 to C$80.00 in a report released on Thursday,BayStreet.CA reports. BMO Capital Markets' price objective would indicate a potential upside of 10.82% from the stock's previous close.

A number of other brokerages have also recently weighed in on LNR. CIBC upped their price objective on shares of Linamar from C$57.00 to C$68.00 in a report on Thursday, July 17th. Scotiabank upped their price objective on shares of Linamar from C$61.00 to C$66.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. Finally, TD Securities upgraded shares of Linamar from a "hold" rating to a "buy" rating and upped their price objective for the stock from C$59.00 to C$66.00 in a report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of C$78.60.

Linamar Trading Down 1.5%

Shares of TSE LNR traded down C$1.09 during midday trading on Thursday, hitting C$72.19. 123,408 shares of the company traded hands, compared to its average volume of 133,352. Linamar has a 12-month low of C$43.84 and a 12-month high of C$73.62. The company has a debt-to-equity ratio of 42.84, a quick ratio of 0.75 and a current ratio of 1.79. The stock has a 50-day moving average price of C$66.05 and a 200 day moving average price of C$57.90. The firm has a market cap of C$4.42 billion, a P/E ratio of 7.54, a P/E/G ratio of 1.12 and a beta of 1.41.

Insider Activity

In other news, Senior Officer Csaba Havasi sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of C$61.96, for a total value of C$247,848.00. Corporate insiders own 33.49% of the company's stock.

Linamar Company Profile

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.

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