CIBC Lowers Linamar (TSE:LNR) Price Target to C$73.00

Linamar (TSE:LNRGet Rating) had its price objective cut by equities research analysts at CIBC from C$85.00 to C$73.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 41.50% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets cut shares of Linamar from an “outperform” rating to a “hold” rating and dropped their target price for the stock from C$97.00 to C$60.00 in a research report on Monday, March 7th. TD Securities dropped their target price on shares of Linamar from C$98.00 to C$83.00 and set a “buy” rating for the company in a research report on Thursday, March 10th. Finally, Scotiabank dropped their target price on shares of Linamar from C$90.00 to C$85.00 in a research report on Friday, April 1st.

Shares of LNR opened at C$51.59 on Thursday. The stock has a market capitalization of C$3.38 billion and a P/E ratio of 8.05. The company has a quick ratio of 1.07, a current ratio of 1.71 and a debt-to-equity ratio of 17.21. The firm has a fifty day simple moving average of C$52.39 and a two-hundred day simple moving average of C$65.25. Linamar has a twelve month low of C$45.46 and a twelve month high of C$84.63.

Linamar (TSE:LNRGet Rating) last announced its quarterly earnings results on Wednesday, March 9th. The company reported C$0.90 earnings per share for the quarter. The firm had revenue of C$1.53 billion for the quarter. Sell-side analysts expect that Linamar will post 8.6200003 EPS for the current fiscal year.

In other Linamar news, Senior Officer Steven Keith Bowman purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The stock was bought at an average cost of C$53.85 per share, for a total transaction of C$53,850.00. Following the purchase, the insider now directly owns 1,080 shares in the company, valued at C$58,158. Also, Senior Officer Christopher John Merchant purchased 605 shares of the firm’s stock in a transaction that occurred on Thursday, March 17th. The stock was acquired at an average price of C$58.04 per share, with a total value of C$35,114.20. Following the completion of the purchase, the insider now owns 2,609 shares in the company, valued at C$151,426.36. Over the last quarter, insiders purchased 2,004 shares of company stock valued at $112,093.

Linamar Company Profile (Get Rating)

Linamar Corporation, together with its subsidiaries, design, develop, and produce engineered products in Canada, North America, Europe, and the Asia Pacific. It operates through two segments, Mobility and Industrial. The Mobility segment engages in the design, development, and manufacture of precision metallic components, modules, and systems for vehicle and power generation markets.

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