Scotiabank Boosts Linamar (TSE:LNR) Price Target to C$98.00

Linamar (TSE:LNR) had its target price raised by research analysts at Scotiabank from C$83.00 to C$98.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 10.20% from the company’s previous close.

LNR has been the topic of several other reports. CIBC boosted their price target on shares of Linamar from C$88.00 to C$99.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. TD Securities upped their target price on Linamar from C$85.00 to C$96.00 in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$90.60.

Linamar Stock Up 0.6%

Shares of Linamar stock traded up C$0.51 during trading on Tuesday, reaching C$88.93. The stock had a trading volume of 57,197 shares, compared to its average volume of 86,827. The company has a current ratio of 1.79, a quick ratio of 0.75 and a debt-to-equity ratio of 42.84. The company has a market capitalization of C$5.32 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.12 and a beta of 1.63. The stock has a fifty day moving average price of C$82.97 and a two-hundred day moving average price of C$76.60. Linamar has a 52 week low of C$43.84 and a 52 week high of C$90.71.

Linamar (TSE:LNR) last announced its earnings results on Wednesday, November 12th. The company reported C$2.51 earnings per share (EPS) for the quarter. The business 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%. Sell-side analysts predict that Linamar will post 11.4332724 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alexander Drolc sold 427 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of C$88.00, for a total value of C$37,576.00. Company insiders own 33.49% of the company’s stock.

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.