CIBC Forecasts Strong Price Appreciation for Linamar (TSE:LNR) Stock

Linamar (TSE:LNR) had its target price boosted by equities researchers at CIBC from C$57.00 to C$68.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. CIBC’s price objective points to a potential upside of 2.21% from the company’s current price.

Other equities research analysts have also issued research reports about the company. TD Securities raised Linamar from a “hold” rating to a “buy” rating and boosted their target price for the company from C$59.00 to C$66.00 in a research note on Thursday, May 8th. Scotiabank lifted their price target on Linamar from C$61.00 to C$66.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 8th.

Linamar Stock Performance

Linamar stock opened at C$66.53 on Thursday. The firm has a fifty day simple moving average of C$63.75 and a two-hundred day simple moving average of C$56.48. 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$69.89. The company has a market capitalization of C$4.07 billion, a PE ratio of 6.95, a P/E/G ratio of 1.12 and a beta of 1.41.

Insider Buying and Selling at Linamar

In related news, Senior Officer Csaba Havasi sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of C$61.96, for a total value of C$247,848.00. Insiders have sold 6,100 shares of company stock worth $356,349 in the last ninety days. Corporate insiders own 33.49% of the company’s stock.

Linamar Company Profile

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.