TD Cuts Linamar (TSE:LNR) Price Target to C$120.00

Linamar (TSE:LNR) had its target price lowered by stock analysts at TD from C$123.00 to C$120.00 in a report issued on Thursday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. TD’s target price suggests a potential upside of 26.94% from the company’s current price.

Several other equities analysts have also recently issued reports on LNR. BMO Capital Markets cut Linamar from an “outperform” rating to a “hold” rating and set a C$105.00 price target on the stock. in a report on Friday, September 18th. Scotiabank boosted their price objective on Linamar from C$102.00 to C$114.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of Linamar from C$115.00 to C$120.00 in a research report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$110.29.

Linamar Trading Down 2.3%

TSE:LNR traded down C$2.18 during trading hours on Thursday, hitting C$94.53. 105,620 shares of the stock were exchanged, compared to its average volume of 132,753. The company has a market capitalization of C$5.58 billion, a P/E ratio of 8.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The company has a quick ratio of 0.75, a current ratio of 1.88 and a debt-to-equity ratio of 32.89. The company’s 50 day moving average is C$100.58 and its two-hundred day moving average is C$97.26. Linamar has a twelve month low of C$70.00 and a twelve month high of C$110.58.

Insider Buying and Selling

In other Linamar news, Director Mark Stoddart sold 18,932 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of C$105.58, for a total value of C$1,998,840.56. Following the transaction, the director owned 455,914 shares of the company’s stock, valued at approximately C$48,135,400.12. This represents a 3.99% decrease in their ownership of the stock. Corporate 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.