Linamar (TSE:LNR) Hits New 52-Week High on Analyst Upgrade

Linamar Co. (TSE:LNR) shares hit a new 52-week high during trading on Tuesday after CIBC raised their price target on the stock from C$88.00 to C$99.00. CIBC currently has an outperform rating on the stock. Linamar traded as high as C$86.38 and last traded at C$86.22, with a volume of 18328 shares changing hands. The stock had previously closed at C$84.63.

A number of other research analysts have also weighed in on the company. TD Securities increased their price objective on Linamar from C$85.00 to C$96.00 in a report on Thursday, November 13th. Scotiabank upped their target price on Linamar from C$80.00 to C$83.00 in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$87.60.

Linamar Stock Performance

The company has a market capitalization of C$5.18 billion, a PE ratio of 21.03, a PEG ratio of 1.12 and a beta of 1.63. The firm has a 50-day moving average of C$79.72 and a two-hundred day moving average of C$74.38. 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 (TSE:LNR) last issued its quarterly earnings data on Wednesday, November 12th. The company reported C$2.51 EPS for the quarter. The business had revenue of C$2.54 billion for the quarter. Linamar had a net margin of 5.58% and a return on equity of 10.73%. Research analysts anticipate that Linamar Co. will post 11.4332724 EPS for the current year.

Linamar Company Profile

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company’s Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.