CIBC Lowers Linamar (TSE:LNR) Price Target to C$73.00

Linamar (TSE:LNRGet Rating) had its price target cut by investment analysts at CIBC from C$85.00 to C$73.00 in a research report issued on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price objective points to a potential upside of 41.50% from the stock’s previous close.

A number of other analysts have also weighed in on LNR. BMO Capital Markets lowered shares of Linamar from an “outperform” rating to a “hold” rating and decreased their target price for the stock from C$97.00 to C$60.00 in a report on Monday, March 7th. Scotiabank decreased their target price on shares of Linamar from C$90.00 to C$85.00 in a report on Friday, April 1st. Finally, TD Securities decreased their target price on shares of Linamar from C$98.00 to C$83.00 and set a “buy” rating on the stock in a report on Thursday, March 10th.

TSE LNR opened at C$51.59 on Thursday. The company’s 50 day moving average is C$52.39 and its 200-day moving average is C$65.25. Linamar has a 12-month low of C$45.46 and a 12-month high of C$84.63. The company has a quick ratio of 1.07, a current ratio of 1.71 and a debt-to-equity ratio of 17.21. The firm has a market cap of C$3.38 billion and a P/E ratio of 8.05.

Linamar (TSE:LNRGet Rating) last posted its earnings results on Wednesday, March 9th. The company reported C$0.90 earnings per share for the quarter. The firm had revenue of C$1.53 billion for the quarter. Equities analysts expect that Linamar will post 8.6200003 EPS for the current year.

In other Linamar news, Senior Officer Christopher John Merchant acquired 605 shares of the business’s stock in a transaction dated Thursday, March 17th. The stock was bought at an average price of C$58.04 per share, with a total value of C$35,114.20. Following the purchase, the insider now owns 2,609 shares of the company’s stock, valued at C$151,426.36. Also, Senior Officer Steven Keith Bowman acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, March 15th. The stock was acquired at an average cost of C$53.85 per share, with a total value of C$53,850.00. Following the purchase, the insider now directly owns 1,080 shares in the company, valued at approximately C$58,158. Insiders bought a total of 2,004 shares of company stock worth $112,093 in the last three months.

Linamar Company Profile (Get Rating)

Linamar Corporation, together with its subsidiaries, design, develop, and produce engineered products in Canada, North America, Europe, and the Asia Pacific. It operates through two segments, Mobility and Industrial. The Mobility segment engages in the design, development, and manufacture of precision metallic components, modules, and systems for vehicle and power generation markets.

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