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

Key Points

• TD Securities raised its target price for Linamar (TSE:LNR) from C$78.00 to C$85.00, indicating a potential upside of 17.74% from the current stock price.
• Other analysts, including Scotiabank and BMO Capital Markets, also increased their target prices for Linamar, now averaging C$78.60 across multiple firms, while maintaining a "hold" rating for the stock.
• Linamar's shares traded at C$72.19 on Thursday, with its market capitalization at C$4.42 billion and a PE ratio of 7.54.

Linamar (TSE:LNR - Get Free Report) had its target price hoisted by analysts at TD Securities from C$78.00 to C$85.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD Securities' target price would suggest a potential upside of 17.74% from the company's current price.

A number of other research firms also recently weighed in on LNR. Scotiabank upped their target price on Linamar from C$71.00 to C$80.00 and gave the company a "sector perform" rating in a research report on Thursday. BMO Capital Markets upped their price objective on Linamar from C$75.00 to C$80.00 in a research report on Thursday. Finally, CIBC upped their price objective on Linamar from C$57.00 to C$68.00 in a research report on Thursday, July 17th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of C$78.60.

Linamar Price Performance

Shares of TSE:LNR traded down C$1.09 during trading on Thursday, reaching C$72.19. 123,408 shares of the company traded hands, compared to its average volume of 133,352. The company's 50 day moving average is C$66.05 and its two-hundred day moving average is C$57.90. The firm has a market capitalization of C$4.42 billion, a PE ratio of 7.54, a PEG ratio of 1.12 and a beta of 1.41. The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84. Linamar has a 52 week low of C$43.84 and a 52 week high of C$73.62.

Insider Buying and Selling

In other Linamar news, Senior Officer Csaba Havasi sold 4,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of C$61.96, for a total value of C$247,848.00. Corporate insiders own 33.49% of the company's stock.

Linamar Company Profile

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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