Linamar (TSE:LNR) Sets New 52-Week Low After Analyst Downgrade

Shares of Linamar Co. (TSE:LNR) hit a new 52-week low during trading on Friday after TD Securities lowered their price target on the stock from C$68.00 to C$66.00. TD Securities currently has a hold rating on the stock. Linamar traded as low as C$52.63 and last traded at C$52.82, with a volume of 104330 shares trading hands. The stock had previously closed at C$52.84.

LNR has been the subject of a number of other research reports. BMO Capital Markets reduced their price objective on Linamar from C$80.00 to C$75.00 in a research report on Wednesday, November 13th. Raymond James reduced their price target on shares of Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. CIBC lowered their price target on shares of Linamar from C$85.00 to C$82.00 in a research report on Monday. Finally, Scotiabank downgraded shares of Linamar from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$86.00 to C$77.00 in a research report on Tuesday, October 29th.

Insider Activity at Linamar

In related news, insider Linamar Corporation purchased 25,101 shares of Linamar stock in a transaction dated Friday, November 29th. The stock was bought at an average cost of C$60.95 per share, with a total value of C$1,529,963.68. Also, Director Linda Hasenfratz acquired 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of C$60.01 per share, with a total value of C$3,000,500.00. Insiders have acquired a total of 90,101 shares of company stock worth $5,475,561 in the last three months. 33.49% of the stock is owned by company insiders.

Linamar Trading Up 0.1 %

The stock has a market capitalization of C$3.24 billion, a P/E ratio of 5.52, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41. The business has a 50 day simple moving average of C$57.13 and a 200-day simple moving average of C$60.41. The company has a debt-to-equity ratio of 42.84, a quick ratio of 0.75 and a current ratio of 1.79.

Linamar (TSE:LNR) last announced its quarterly earnings data on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, beating the consensus estimate of C$2.15 by C$0.20. The business had revenue of C$2.64 billion during the quarter, compared to analyst estimates of C$2.75 billion. Linamar had a return on equity of 10.73% and a net margin of 5.58%. On average, analysts predict that Linamar Co. will post 11.4332724 EPS for the current year.

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.