Linamar (TSE:LNR) PT Set at C$85.00 by CIBC

Linamar (TSE:LNR) has been assigned a C$85.00 price objective by CIBC in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 54.13% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. BMO Capital Markets decreased their target price on Linamar from C$80.00 to C$75.00 in a research report on Wednesday, November 13th. Raymond James cut their price target on Linamar from C$74.00 to C$70.00 in a research note on Thursday, November 14th. TD Securities downgraded Linamar from a “buy” rating to a “hold” rating and cut their price target for the stock from C$89.00 to C$68.00 in a research note on Wednesday, November 13th. Finally, Scotiabank downgraded Linamar from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$86.00 to C$77.00 in a research note on Tuesday, October 29th.

Linamar Stock Performance

Shares of Linamar stock traded up C$0.37 during trading hours on Monday, hitting C$55.15. 37,971 shares of the company’s stock traded hands, compared to its average volume of 91,838. Linamar has a 12-month low of C$54.07 and a 12-month high of C$73.84. The stock has a market capitalization of C$3.40 billion, a price-to-earnings ratio of 5.63, a PEG ratio of 1.12 and a beta of 1.41. The company has a fifty day simple moving average of C$59.18 and a 200-day simple moving average of C$62.27. The company has a debt-to-equity ratio of 46.32, a current ratio of 1.68 and a quick ratio of 0.75.

Linamar (TSE:LNR) last announced its earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.15 by C$0.20. Linamar had a return on equity of 11.31% and a net margin of 5.77%. The firm had revenue of C$2.64 billion during the quarter, compared to analyst estimates of C$2.75 billion. Equities research analysts anticipate that Linamar will post 11.4332724 EPS for the current fiscal year.

Insider Buying and Selling at Linamar

In related news, Director Linda Hasenfratz purchased 50,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of C$60.01 per share, with a total value of C$3,000,500.00. Also, insider Linamar Corporation purchased 15,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was bought at an average cost of C$63.01 per share, for a total transaction of C$945,097.50. Insiders have acquired a total of 90,101 shares of company stock valued at $5,475,561 in the last 90 days. Corporate insiders own 33.49% of the company’s stock.

About Linamar

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.