Scotiabank Issues Pessimistic Forecast for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its price target dropped by research analysts at Scotiabank from C$99.00 to C$96.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 12.36% from the stock’s current price.

A number of other analysts also recently issued reports on LNR. TD raised their price target on Linamar from C$114.00 to C$116.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Canadian Imperial Bank of Commerce raised their price target on Linamar from C$99.00 to C$105.00 in a research report on Friday, March 6th. TD Securities lifted their target price on Linamar from C$103.00 to C$114.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Raymond James Financial decreased their target price on Linamar from C$100.00 to C$90.00 and set a “market perform” rating for the company in a research report on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Linamar has an average rating of “Moderate Buy” and a consensus price target of C$100.17.

Linamar Price Performance

TSE LNR opened at C$85.44 on Friday. The stock has a market cap of C$5.08 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 1.12 and a beta of 1.58. The company’s 50 day moving average is C$87.97 and its two-hundred day moving average is C$83.55. Linamar has a 12 month low of C$48.80 and a 12 month high of C$98.65. The company has a current ratio of 1.73, a quick ratio of 0.75 and a debt-to-equity ratio of 34.42.

Linamar (TSE:LNR) last issued its quarterly earnings results on Wednesday, March 4th. The company reported C$2.28 earnings per share (EPS) for the quarter. The company had revenue of C$2.52 billion during the quarter. Linamar had a return on equity of 9.92% and a net margin of 5.71%. As a group, research analysts anticipate that Linamar will post 11.4332724 earnings per share 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.