CIBC Forecasts Strong Price Appreciation for Linamar (TSE:LNR) Stock

Linamar (TSE:LNR) had its price objective upped by research analysts at CIBC from C$88.00 to C$99.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price objective indicates a potential upside of 16.21% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Scotiabank upped their target price on Linamar from C$80.00 to C$83.00 in a research note on Friday, October 17th. TD Securities boosted their target price on Linamar from C$85.00 to C$96.00 in a research report on Thursday, November 13th. One investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$87.60.

Linamar Trading Up 1.2%

Shares of LNR stock traded up C$0.97 on Monday, reaching C$85.19. 120,684 shares of the stock were exchanged, compared to its average volume of 87,059. The stock has a 50 day moving average price of C$79.33 and a 200 day moving average price of C$74.07. The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75. The stock has a market cap of C$5.10 billion, a PE ratio of 20.68, a P/E/G ratio of 1.12 and a beta of 1.63. Linamar has a one year low of C$43.84 and a one year high of C$85.78.

Linamar (TSE:LNR) last announced its earnings results on Wednesday, November 12th. The company reported C$2.51 earnings per share for the quarter. The company had revenue of C$2.54 billion for the quarter. Linamar had a return on equity of 10.73% and a net margin of 5.58%. Equities research analysts forecast that Linamar will post 11.4332724 EPS for the current fiscal year.

About Linamar

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.