BMO Capital Markets Raises Linamar Co. (LNR) Price Target to C$80.00
Linamar Co. (TSE:LNR) had its price target raised by equities researchers at BMO Capital Markets from C$70.00 to C$80.00 in a report released on Monday. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 2.01% from the company’s current price.
LNR has been the subject of several other reports. CIBC raised their target price on Linamar from C$69.00 to C$81.00 in a research note on Thursday, September 28th. Royal Bank Of Canada raised their price target on shares of Linamar from C$71.00 to C$74.00 and gave the company a “sector perform” rating in a research report on Thursday, August 3rd. Finally, TD Securities dropped their price target on shares of Linamar from C$73.00 to C$72.00 and set a “hold” rating on the stock in a research report on Thursday, August 3rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of C$78.40.
Shares of Linamar (LNR) traded down 0.71% during mid-day trading on Monday, hitting $78.42. The stock had a trading volume of 71,961 shares. Linamar has a 1-year low of $47.00 and a 1-year high of $80.29. The firm’s 50 day moving average price is $75.05 and its 200 day moving average price is $66.29. The company has a market cap of $5.12 billion and a P/E ratio of 9.49.
Linamar (TSE:LNR) last issued its earnings results on Wednesday, August 2nd. The company reported C$2.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$2.35 by C$0.10. The company had revenue of C$1.77 billion during the quarter, compared to the consensus estimate of C$1.71 billion. Linamar had a return on equity of 22.89% and a net margin of 9.17%. Analysts predict that Linamar will post $8.34 earnings per share for the current fiscal year.
In related news, insider Kenneth Mcdougall sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of C$78.74, for a total value of C$196,850.00. Also, insider Alexander Drolc sold 651 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of C$70.00, for a total transaction of C$45,570.00. In the last ninety days, insiders sold 3,251 shares of company stock worth $249,620.
Linamar Company Profile
Linamar Corporation is a Canada-based diversified manufacturing company of engineered products powering vehicles, motion, work and lives. The Company operates through two segments: the Powertrain/Driveline and the Industrial. The segments are divided into four operating groups: Machining & Assembly, Light Metal Casting, Forging and Skyjack.
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