CIBC Lowers Linamar (TSE:LNR) Price Target to C$84.00

Linamar (TSE:LNR) had its price objective decreased by CIBC from C$85.00 to C$84.00 in a report issued on Thursday,BayStreet.CA reports.

Several other equities research analysts have also recently weighed in on LNR. TD Securities cut Linamar from a “buy” rating to a “hold” rating and cut their target price for the stock from C$89.00 to C$68.00 in a research note on Wednesday, November 13th. BMO Capital Markets lowered their target price on Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th. Finally, Scotiabank downgraded shares of Linamar from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$86.00 to C$77.00 in a research note on Tuesday, October 29th.

Linamar Stock Performance

Shares of TSE:LNR opened at C$61.23 on Thursday. The company’s 50 day moving average price is C$61.67 and its two-hundred day moving average price is C$64.93. Linamar has a 12-month low of C$54.95 and a 12-month high of C$73.84. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32. The firm has a market cap of C$3.77 billion, a PE ratio of 6.25, a PEG ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, topping the consensus estimate of C$2.15 by C$0.20. Linamar had a net margin of 5.77% and a return on equity of 11.31%. The business had revenue of C$2.64 billion during the quarter, compared to analysts’ expectations of C$2.75 billion. Equities research analysts predict that Linamar will post 11.4332724 earnings per share for the current year.

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.