Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Linamar (TSE:LNR) Stock

Linamar (TSE:LNR) had its price target boosted by stock analysts at Canadian Imperial Bank of Commerce from C$99.00 to C$105.00 in a note issued to investors on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target points to a potential upside of 18.72% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. TD Securities lifted their target price on shares of Linamar from C$103.00 to C$114.00 and gave the company a “buy” rating in a research note on Thursday. Scotiabank increased their price objective on Linamar from C$83.00 to C$98.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 27th. Finally, Raymond James Financial lifted their price objective on Linamar from C$85.00 to C$100.00 in a research report on Thursday. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$99.40.

Linamar Stock Performance

Shares of Linamar stock opened at C$88.44 on Friday. Linamar has a 12 month low of C$43.84 and a 12 month high of C$98.65. The company has a quick ratio of 0.75, a current ratio of 1.84 and a debt-to-equity ratio of 35.80. The stock has a market cap of C$5.29 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 1.12 and a beta of 1.72. The business has a fifty day simple moving average of C$89.17 and a 200-day simple moving average of C$81.09.

Linamar (TSE:LNR) last announced its quarterly earnings data on Wednesday, March 4th. The company reported C$2.28 earnings per share (EPS) for the quarter. The firm had revenue of C$2.52 billion during the quarter. Linamar had a return on equity of 4.22% and a net margin of 2.39%. On average, sell-side analysts anticipate that Linamar will post 11.4332724 EPS for the current fiscal year.

Insider Transactions at Linamar

In other Linamar news, insider Alexander Drolc sold 427 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of C$88.00, for a total transaction of C$37,576.00. Corporate insiders own 33.49% of the company’s stock.

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.