Scotiabank Forecasts Strong Price Appreciation for Linamar (TSE:LNR) Stock

Key Points

• Scotiabank has raised its price target for Linamar (TSE:LNR) stock from C$71.00 to C$80.00, suggesting a potential upside of 10.82% from its previous close.
• Several other analysts have also increased their target prices for Linamar, with BMO Capital Markets and CIBC both raising their targets to C$80.00 and C$68.00, respectively.
• Insider trading activity was noted, as Senior Officer Csaba Havasi sold 4,000 shares at an average price of C$61.96, indicating a significant ongoing interest from company insiders.

Linamar (TSE:LNR - Get Free Report) had its price target lifted by research analysts at Scotiabank from C$71.00 to C$80.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's price target points to a potential upside of 10.82% from the company's previous close.

A number of other equities research analysts also recently issued reports on LNR. BMO Capital Markets boosted their target price on shares of Linamar from C$75.00 to C$80.00 in a report on Thursday. CIBC boosted their target price on shares of Linamar from C$57.00 to C$68.00 in a report on Thursday, July 17th. Finally, TD Securities upgraded shares of Linamar from a "hold" rating to a "buy" rating and boosted their target price for the company from C$59.00 to C$66.00 in a report on Thursday, May 8th. Four investment 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 has an average rating of "Hold" and an average target price of C$78.60.

Linamar Trading Down 1.5%

Shares of TSE LNR traded down C$1.09 during midday trading on Thursday, reaching C$72.19. 123,408 shares of the stock were exchanged, compared to its average volume of 133,352. The company has a market capitalization 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. Linamar has a 52-week low of C$43.84 and a 52-week high of C$73.62. The company has a current ratio of 1.79, a quick ratio of 0.75 and a debt-to-equity ratio of 42.84. The stock has a 50 day moving average price of C$66.05 and a 200-day moving average price of C$57.90.

Insiders Place Their Bets

In other Linamar news, Senior Officer Csaba Havasi sold 4,000 shares of Linamar 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 transaction of C$247,848.00. 33.49% of the stock is currently owned by company insiders.

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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