Raymond James Financial Issues Positive Forecast for Linamar (TSE:LNR) Stock Price

Key Points

• Raymond James Financial raised its target price for Linamar (TSE:LNR) stock from C$70.00 to C$80.00, indicating a potential upside of 10.82% from the current price.
• Other analysts, including CIBC and BMO Capital Markets, also increased their target prices, with an average consensus price target now at C$78.60.
• Despite positive forecasts, Linamar's stock recently traded down by 1.5% to C$72.19, with recent insider selling reported.

Linamar (TSE:LNR - Get Free Report) had its target price lifted by equities research analysts at Raymond James Financial from C$70.00 to C$80.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a "market perform" rating on the stock. Raymond James Financial's price objective points to a potential upside of 10.82% from the stock's current price.

Several other analysts have also recently issued reports on the company. CIBC increased their target price on Linamar from C$57.00 to C$68.00 in a research report on Thursday, July 17th. BMO Capital Markets increased their target price on Linamar from C$75.00 to C$80.00 in a research report on Thursday. Scotiabank increased their target price on Linamar from C$71.00 to C$80.00 and gave the company a "sector perform" rating in a research report on Thursday. Finally, TD Securities increased their target price on Linamar from C$78.00 to C$85.00 and gave the company a "buy" rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of C$78.60.

Linamar Trading Down 1.5%

LNR traded down C$1.09 during trading on Thursday, hitting C$72.19. 123,408 shares of the stock were exchanged, compared to its average volume of 133,352. The firm has a 50 day simple moving average of C$66.05 and a 200 day simple moving average of C$57.90. The firm has a market cap of C$4.42 billion, a price-to-earnings ratio of 7.54, a P/E/G ratio of 1.12 and a beta of 1.41. Linamar has a 1 year low of C$43.84 and a 1 year 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.

Insider Buying and Selling

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

About Linamar

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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