Linamar (TSE:LNR – Get Free Report) had its price objective reduced by analysts at CIBC from C$91.50 to C$90.00 in a research note issued on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 39.64% from the company’s previous close.
Separately, Scotiabank boosted their price target on Linamar from C$82.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$82.20.
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Linamar Price Performance
Linamar (TSE:LNR – Get Free Report) last posted its quarterly earnings data on Wednesday, March 6th. The company reported C$1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.75 by C$0.23. Linamar had a return on equity of 9.93% and a net margin of 5.17%. The company had revenue of C$2.45 billion for the quarter, compared to analysts’ expectations of C$2.40 billion. On average, research analysts expect that Linamar will post 10.0864553 earnings per share for the current year.
Insider Buying and Selling
In related news, Senior Officer Michael Willard Russell bought 586 shares of the company’s stock in a transaction on Monday, March 18th. The stock was bought at an average cost of C$69.93 per share, for a total transaction of C$40,978.98. Following the acquisition, the insider now directly owns 586 shares in the company, valued at C$40,978.98. 35.92% of the stock is currently owned by company insiders.
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 powered vehicle markets.
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