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

Key Points

• Scotiabank raised its price target on Linamar to C$102 from C$99 while keeping a sector perform rating. The new target implies a slight downside from the stock’s current price.
• Analyst sentiment is mixed but generally constructive, with the consensus rating listed as Moderate Buy and an average target price of C$104.14. Other firms have recently increased their targets as well, including TD and CIBC.
• Linamar is trading near its 52-week high after a modest 0.2% decline to C$103.50. The company also reported solid recent earnings, including C$3.28 EPS and C$2.94 billion in quarterly revenue.

Linamar (TSE:LNR - Get Free Report) had its target price raised by Scotiabank from C$99.00 to C$102.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's target price suggests a potential downside of 1.45% from the company's current price.

LNR has been the subject of a number of other research reports. TD lifted their target price on shares of Linamar from C$116.00 to C$119.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Canadian Imperial Bank of Commerce upped their price target on shares of Linamar from C$110.00 to C$115.00 in a research report on Tuesday, July 14th. Raymond James Financial increased their price target on Linamar from C$90.00 to C$100.00 and gave the stock a "market perform" rating in a report on Thursday, May 7th. Finally, Scotia boosted their price objective on Linamar from C$96.00 to C$99.00 and gave the company a "sector perform" rating in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$104.14.

Linamar Trading Down 0.2%

LNR stock traded down C$0.16 during trading on Monday, hitting C$103.50. The company had a trading volume of 60,022 shares, compared to its average volume of 122,393. The stock has a market cap of C$6.13 billion, a PE ratio of 9.86, a PEG ratio of 1.12 and a beta of 1.72. The business has a 50-day moving average of C$100.45 and a 200-day moving average of C$92.32. The company has a current ratio of 1.50, a quick ratio of 0.75 and a debt-to-equity ratio of 35.07. Linamar has a one year low of C$65.60 and a one year high of C$107.12.

Linamar (TSE:LNR - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported C$3.28 earnings per share (EPS) for the quarter. The firm had revenue of C$2.94 billion during the quarter. Linamar had a net margin of 5.90% and a return on equity of 10.37%. Research analysts predict that Linamar will post 11.4332724 earnings per share for the current fiscal year.

Insider Transactions at Linamar

In related news, insider Csaba Havasi sold 3,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$97.47, for a total transaction of C$292,410.00. Following the transaction, the insider directly owned 71,543 shares of the company's stock, valued at C$6,973,296.21. This represents a 4.02% decrease in their ownership of the stock. 33.49% of the stock is currently owned by corporate insiders.

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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