Linamar (TSE:LNR) Upgraded to “Buy” at TD Securities

TD Securities upgraded shares of Linamar (TSE:LNR) from a hold rating to a buy rating in a research note published on Thursday morning,BayStreet.CA reports. TD Securities currently has C$66.00 price objective on the stock, up from their prior price objective of C$59.00.

Several other analysts have also commented on the stock. Scotiabank increased their target price on shares of Linamar from C$61.00 to C$66.00 and gave the company a “sector perform” rating in a research note on Thursday. CIBC lowered shares of Linamar from an “outperform” rating to a “neutral” rating and dropped their price target for the company from C$82.00 to C$55.00 in a research report on Wednesday, March 5th. BMO Capital Markets lowered their price objective on shares of Linamar from C$75.00 to C$65.00 in a research note on Thursday, March 6th. Finally, Cibc World Mkts cut Linamar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th.

Linamar Stock Up 9.3 %

TSE LNR opened at C$57.99 on Thursday. Linamar has a fifty-two week low of C$43.84 and a fifty-two week high of C$73.84. The stock has a market cap of C$3.55 billion, a PE ratio of 6.05, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84. The business has a 50 day moving average price of C$50.22 and a two-hundred day moving average price of C$55.07.

Insider Buying and Selling

In other Linamar news, Senior Officer Csaba Havasi sold 2,000 shares of Linamar stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of C$50.91, for a total value of C$101,816.40. 33.49% of the stock is owned by corporate insiders.

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.