TD Securities Downgrades Linamar (TSE:LNR) to Hold

TD Securities downgraded shares of Linamar (TSE:LNR) from a buy rating to a hold rating in a research note published on Wednesday, Marketbeat reports. TD Securities currently has C$68.00 price target on the stock, down from their previous price target of C$89.00.

Several other analysts have also recently weighed in on LNR. BMO Capital Markets lowered their price objective on shares of Linamar from C$80.00 to C$75.00 in a research report on Wednesday. CIBC lowered their price target on Linamar from C$88.00 to C$85.00 in a research report on Friday, November 8th. Finally, Scotiabank cut Linamar from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$86.00 to C$77.00 in a report on Tuesday, October 29th.

Linamar Price Performance

Linamar stock opened at C$61.23 on Wednesday. The stock has a market cap of C$3.77 billion, a price-to-earnings ratio of 6.25, a PEG ratio of 1.12 and a beta of 1.41. 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 business has a 50-day simple moving average of C$61.67 and a 200 day simple moving average of C$64.93. Linamar has a 52 week low of C$54.95 and a 52 week high of C$73.84.

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

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.