TD Issues Positive Forecast for Linamar (TSE:LNR) Stock Price

Key Points

• TD Securities raised its price target on Linamar to C$116 (from C$114) and kept a buy rating, implying roughly a 37.8% upside from the prior close.
• Analyst split is three Buys and two Holds, giving a MarketBeat consensus of "Moderate Buy" with an average target of C$100.50.
• Shares traded at C$84.18 with a market cap of C$5.0B and a P/E of 8.65; Linamar reported quarterly EPS of C$2.28 on C$2.52B revenue, and analysts forecast about 11.43 EPS for the year.

Linamar (TSE:LNR - Get Free Report) had its price objective hoisted by analysts at TD from C$114.00 to C$116.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD's price target suggests a potential upside of 37.80% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Scotiabank raised their price target on Linamar from C$83.00 to C$98.00 and gave the company a "sector perform" rating in a report on Tuesday, January 27th. Raymond James Financial dropped their price target on Linamar from C$100.00 to C$90.00 and set a "market perform" rating for the company in a report on Thursday, April 16th. TD Securities lifted their target price on Linamar from C$103.00 to C$114.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Finally, Canadian Imperial Bank of Commerce lifted their target price on Linamar from C$99.00 to C$105.00 in a research note on Friday, March 6th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$100.50.

Linamar Price Performance

LNR stock traded up C$0.01 during midday trading on Tuesday, reaching C$84.18. 77,777 shares of the company's stock traded hands, compared to its average volume of 120,240. The company has a 50-day simple moving average of C$88.48 and a two-hundred day simple moving average of C$83.32. Linamar has a 1-year low of C$47.62 and a 1-year high of C$98.65. The company has a market cap of C$5.00 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 1.12 and a beta of 1.58. The company has a quick ratio of 0.75, a current ratio of 1.73 and a debt-to-equity ratio of 34.42.

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