TD Securities Upgrades Linamar (TSE:LNR) to “Buy”

Linamar (TSE:LNR) was upgraded by investment analysts at TD Securities from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a C$66.00 price objective on the stock, up from their prior price objective of C$59.00. TD Securities’ price target suggests a potential upside of 10.00% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets lowered their price target on shares of Linamar from C$75.00 to C$65.00 in a research note on Thursday, March 6th. CIBC lowered Linamar from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from C$82.00 to C$55.00 in a report on Wednesday, March 5th. Scotiabank increased their price target on Linamar from C$61.00 to C$66.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Cibc World Mkts downgraded Linamar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th.

Linamar Trading Up 3.5 %

TSE:LNR opened at C$60.00 on Thursday. 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 twelve month low of C$43.84 and a twelve month high of C$72.58. The company has a market cap of C$3.67 billion, a P/E ratio of 6.26, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41. The business has a 50 day moving average price of C$50.44 and a two-hundred day moving average price of C$55.11.

Insider Activity at Linamar

In other Linamar news, Senior Officer Csaba Havasi sold 2,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of C$50.91, for a total transaction of C$101,816.40. 33.49% of the stock is currently owned by company insiders.

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.