Linamar (TSE:LNR) Hits New 12-Month Low – Here’s What Happened

Linamar Co. (TSE:LNR)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$43.85 and last traded at C$44.21, with a volume of 164088 shares. The stock had previously closed at C$46.29.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Cibc World Mkts downgraded shares of Linamar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. CIBC downgraded shares of Linamar from an “outperform” rating to a “neutral” rating and cut their price target for the company from C$82.00 to C$55.00 in a report on Wednesday, March 5th. BMO Capital Markets decreased their price objective on shares of Linamar from C$75.00 to C$65.00 in a research note on Thursday, March 6th. Finally, TD Securities cut their target price on shares of Linamar from C$66.00 to C$60.00 and set a “hold” rating for the company in a research note on Thursday, March 6th.

Linamar Trading Down 4.5 %

The company has a debt-to-equity ratio of 42.84, a quick ratio of 0.75 and a current ratio of 1.79. The firm has a market cap of C$2.71 billion, a price-to-earnings ratio of 4.62, a P/E/G ratio of 1.12 and a beta of 1.41. The company’s 50-day moving average is C$51.89 and its 200-day moving average is C$57.22.

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.