Raymond James Financial Has Lowered Expectations for Linamar (TSE:LNR) Stock Price

Key Points

• Raymond James lowered its price target for Linamar from C$100 to C$90 and kept a market perform rating, implying about a 12.15% upside from the current share price.
• Other brokers are more bullish — TD Securities and CIBC raised targets to C$114 and C$105 respectively, and the consensus rating is a Moderate Buy with an average target of C$97.40.
• Linamar traded near C$80.25 with a P/E of 8.25, quarterly EPS of C$2.28 and revenue of C$2.52 billion, suggesting a relatively attractive valuation despite modest margins.

Linamar (TSE:LNR - Get Free Report) had its price target reduced by equities research analysts at Raymond James Financial from C$100.00 to C$90.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a "market perform" rating on the stock. Raymond James Financial's target price suggests a potential upside of 12.15% from the stock's current price.

LNR has been the subject of several other research reports. Scotiabank lifted their price objective on shares of Linamar from C$83.00 to C$98.00 and gave the stock a "sector perform" rating in a research note on Tuesday, January 27th. TD Securities lifted their price objective on shares of Linamar from C$103.00 to C$114.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of Linamar from C$99.00 to C$105.00 in a research note on Friday, March 6th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$97.40.

Linamar Stock Performance

Linamar stock traded up C$2.58 during midday trading on Thursday, hitting C$80.25. The company's stock had a trading volume of 245,205 shares, compared to its average volume of 116,928. Linamar has a 1-year low of C$46.61 and a 1-year high of C$98.65. The company has a debt-to-equity ratio of 34.42, a current ratio of 1.73 and a quick ratio of 0.75. The company has a 50-day moving average price of C$88.83 and a two-hundred day moving average price of C$83.11. The company has a market cap of C$4.77 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 1.12 and a beta of 1.58.

Linamar (TSE:LNR - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The company reported C$2.28 earnings per share for the quarter. Linamar had a net margin of 5.71% and a return on equity of 9.92%. The business had revenue of C$2.52 billion during the quarter. As a group, sell-side analysts predict that Linamar will post 11.4332724 earnings per share 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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