Linamar (TSE:LNR) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Linamar (TSE:LNR) had its target price hoisted by stock analysts at Canadian Imperial Bank of Commerce from C$105.00 to C$110.00 in a report released on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price suggests a potential upside of 14.70% from the stock’s current price.

LNR has been the topic of a number of other reports. Scotiabank decreased their price objective on Linamar from C$99.00 to C$96.00 and set a “sector perform” rating on the stock in a research report on Friday, April 24th. Raymond James Financial decreased their price objective on Linamar from C$100.00 to C$90.00 and set a “market perform” rating on the stock in a research report on Thursday, April 16th. TD Securities increased their price objective on Linamar from C$103.00 to C$114.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, TD increased their price objective on Linamar from C$114.00 to C$116.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Linamar currently has a consensus rating of “Moderate Buy” and a consensus target price of C$102.57.

Linamar Stock Up 0.6%

TSE LNR opened at C$95.90 on Thursday. The firm has a market cap of C$5.70 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 1.12 and a beta of 1.68. Linamar has a one year low of C$58.45 and a one year high of C$98.65. The stock’s 50 day simple moving average is C$87.26 and its 200 day simple moving average is C$84.47. The company has a debt-to-equity ratio of 35.07, a current ratio of 1.50 and a quick ratio of 0.75.

Linamar (TSE:LNR) last released its quarterly earnings results on Thursday, May 7th. The company reported C$3.28 EPS for the quarter. The business had revenue of C$2.94 billion for the quarter. Linamar had a return on equity of 10.37% and a net margin of 5.90%. As a group, sell-side analysts forecast that Linamar will post 11.4332724 earnings per share for the current fiscal year.

Linamar News Summary

Here are the key news stories impacting Linamar this week:

• Positive Sentiment: TD raised its price target on Linamar to C$119 from C$116 and kept a buy rating, implying the most upside among the recent notes. Article Link
• Positive Sentiment: Canadian Imperial Bank of Commerce increased its target to C$110 from C$105, reinforcing expectations for further gains in the stock. Article Link
• Positive Sentiment: Linamar reported quarterly EPS of C$3.28 on revenue of C$2.94 billion, with a 5.71% net margin and 9.92% return on equity, which appears to be supporting investor confidence. Article Link
• Neutral Sentiment: Scotia lifted its target to C$99 from C$96 and maintained a sector perform rating, signaling a cautious but improved outlook. Article Link
• Neutral Sentiment: Raymond James raised its target to C$100 from C$90 while keeping a market perform rating, adding to the view that the stock is fairly valued near current levels. Article Link

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.