CIBC Cuts Linamar (TSE:LNR) Price Target to C$85.00

Linamar (TSE:LNR) had its price objective decreased by CIBC from C$88.00 to C$85.00 in a report published on Friday morning,BayStreet.CA reports.

A number of other equities research analysts also recently commented on LNR. TD Securities decreased their target price on Linamar from C$92.00 to C$89.00 and set a “buy” rating for the company in a report on Monday, September 30th. Scotiabank downgraded Linamar from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$86.00 to C$77.00 in a report on Tuesday, October 29th. Finally, BMO Capital Markets decreased their target price on Linamar from C$90.00 to C$80.00 in a report on Friday, August 9th.

Linamar Price Performance

Shares of TSE LNR opened at C$59.32 on Friday. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68. Linamar has a fifty-two week low of C$54.95 and a fifty-two week high of C$73.84. The company has a market cap of C$3.65 billion, a PE ratio of 6.05, a P/E/G ratio of 1.12 and a beta of 1.41. The business has a 50-day simple moving average of C$61.90 and a two-hundred day simple moving average of C$65.13.

Linamar (TSE:LNR) last released its earnings results on Thursday, August 8th. The company reported C$3.06 EPS for the quarter, topping analysts’ consensus estimates of C$2.70 by C$0.36. Linamar had a return on equity of 11.31% and a net margin of 5.77%. The firm had revenue of C$2.85 billion during the quarter, compared to the consensus estimate of C$2.92 billion. As a group, equities analysts expect that Linamar will post 11.4332724 EPS for the current fiscal 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.