Scotiabank Has Lowered Expectations for Linamar (TSE:LNR) Stock Price

Key Points

• Scotiabank lowered its price target on Linamar from C$99 to C$96 and kept a sector perform rating, implying roughly a 12.8% upside from the prior close.
• Analyst sentiment is mixed but mildly positive: three Buy and two Hold ratings produce an average target of C$100.17 and an overall Moderate Buy consensus.
• Linamar shares traded at C$85.10 (down 0.9%) with a market cap of C$5.06B and a P/E of 8.75, trading within a one‑year range of C$48.80–C$98.65.

Linamar (TSE:LNR - Get Free Report) had its price target cut by equities research analysts at Scotiabank from C$99.00 to C$96.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's target price suggests a potential upside of 12.81% from the company's previous close.

Several other equities research analysts also recently weighed in on the stock. Canadian Imperial Bank of Commerce boosted their target price on shares of Linamar from C$99.00 to C$105.00 in a research report on Friday, March 6th. Raymond James Financial dropped 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 research report on Thursday, April 16th. TD boosted their target price on shares of Linamar from C$114.00 to C$116.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, TD Securities boosted their target price on shares of Linamar from C$103.00 to C$114.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Linamar presently has an average rating of "Moderate Buy" and an average target price of C$100.17.

Linamar Stock Down 0.9%

Linamar stock traded down C$0.75 during midday trading on Friday, hitting C$85.10. 34,589 shares of the stock were exchanged, compared to its average volume of 119,823. The company has a 50 day moving average price of C$88.16 and a two-hundred day moving average price of C$83.40. The firm has a market cap of C$5.06 billion, a P/E ratio of 8.75, a P/E/G ratio of 1.12 and a beta of 1.58. Linamar has a 1 year low of C$48.80 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.

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