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

Key Points

• TD raised its price target on Linamar to C$119 (from C$116) and kept a "buy" rating, implying roughly a 24.06% upside from the prior close.
• Shares jumped 5.8% to C$95.92 on Thursday; Linamar reported quarterly EPS of C$3.28 and revenue of C$2.94B, trades at a P/E of 9.86 and has a market cap of C$5.70B.
• Analyst sentiment is mixed — three Buy and three Hold — leaving a MarketBeat consensus of "Moderate Buy" with an average target of C$102.57, while several banks have recently adjusted their targets lower.

Linamar (TSE:LNR - Get Free Report) had its price objective upped by TD from C$116.00 to C$119.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD's price target would indicate a potential upside of 24.06% from the company's previous close.

LNR has been the subject of several other research reports. Scotiabank lowered their price objective on shares of Linamar from C$99.00 to C$96.00 and set a "sector perform" rating for the company in a research report on Friday, April 24th. Raymond James Financial reduced their target price on shares of Linamar from C$100.00 to C$90.00 and set a "market perform" rating on the stock in a research report on Thursday, April 16th. TD Securities raised their price target on shares of Linamar from C$103.00 to C$114.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of Linamar from C$105.00 to C$110.00 in a research note on Thursday. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Linamar presently has an average rating of "Moderate Buy" and a consensus target price of C$102.57.

Linamar Stock Up 5.8%

Shares of LNR stock traded up C$5.26 during trading hours on Thursday, reaching C$95.92. The company had a trading volume of 173,372 shares, compared to its average volume of 122,692. The company has a debt-to-equity ratio of 34.42, a quick ratio of 0.75 and a current ratio of 1.73. Linamar has a twelve month low of C$55.67 and a twelve month high of C$98.65. The company has a market capitalization of C$5.70 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 1.12 and a beta of 1.68. The stock's fifty day simple moving average is C$87.25 and its 200 day simple moving average is C$84.31.

Linamar (TSE:LNR - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported C$3.28 EPS for the quarter. The business had revenue of C$2.94 billion for the quarter. Linamar had a return on equity of 9.92% and a net margin of 5.71%. As a group, sell-side analysts expect 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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