Linamar (TSE:LNR) Given New C$99.00 Price Target at Scotia

Key Points

• Scotia raised its price target on Linamar from C$96 to C$99 while keeping a "sector perform" rating, implying roughly a 3.21% upside from the prior close.
• Analysts are split (three Buy, three Hold) giving a consensus "Moderate Buy" and an average target of C$102.57, with individual targets ranging about C$90–C$119.
• Shares traded up to C$95.92 on heavy volume; the company reported quarterly EPS of C$3.28, revenue of C$2.94B, a market cap of C$5.70B and a PE of 9.86.

Linamar (TSE:LNR - Get Free Report) had its price target boosted by research analysts at Scotia from C$96.00 to C$99.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotia's target price would suggest a potential upside of 3.21% from the stock's previous close.

Several other analysts also recently commented on the stock. Raymond James Financial reduced their target price on shares of Linamar from C$100.00 to C$90.00 and set a "market perform" rating for the company in a report on Thursday, April 16th. Scotiabank lowered their price target on shares of Linamar from C$99.00 to C$96.00 and set a "sector perform" rating on the stock in a report on Friday, April 24th. Canadian Imperial Bank of Commerce boosted their price objective on Linamar from C$105.00 to C$110.00 in a report on Thursday. TD Securities upped their target price on Linamar from C$103.00 to C$114.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. Finally, TD increased their target price on Linamar from C$116.00 to C$119.00 and gave the stock a "buy" rating in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$102.57.

Linamar Stock Performance

Shares of LNR stock traded up C$5.26 during trading on Thursday, reaching C$95.92. 173,372 shares of the company's stock were exchanged, compared to its average volume of 122,692. Linamar has a twelve month low of C$55.67 and a twelve month high of C$98.65. The firm's fifty day moving average price is C$87.25 and its 200-day moving average price is C$84.31. The company has a quick ratio of 0.75, a current ratio of 1.73 and a debt-to-equity ratio of 34.42. The stock has a market capitalization of C$5.70 billion, a PE ratio of 9.86, a PEG ratio of 1.12 and a beta of 1.68.

Linamar (TSE:LNR - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$3.28 earnings per share (EPS) for the quarter. Linamar had a return on equity of 9.92% and a net margin of 5.71%.The business had revenue of C$2.94 billion during the quarter. As a group, sell-side analysts anticipate that Linamar will post 11.4332724 EPS for the current year.

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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