Linamar (TSE:LNR) PT Lowered to C$80.00

Linamar (TSE:LNRGet Rating) had its price target decreased by equities research analysts at TD Securities from C$83.00 to C$80.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 55.07% from the company’s previous close.

A number of other research firms have also weighed in on LNR. CIBC reduced their price objective on shares of Linamar from C$85.00 to C$73.00 and set an “outperform” rating on the stock in a research report on Thursday. Scotiabank reduced their price objective on shares of Linamar from C$90.00 to C$85.00 in a research report on Friday, April 1st. Finally, BMO Capital Markets lowered shares of Linamar from an “outperform” rating to a “hold” rating and reduced their price objective for the stock from C$97.00 to C$60.00 in a research report on Monday, March 7th.

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

Linamar (TSE:LNRGet Rating) last posted its quarterly earnings data 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 during the quarter. On average, equities analysts predict that Linamar will post 8.6200003 EPS for the current fiscal year.

In other Linamar news, Senior Officer Steven Keith Bowman acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, March 15th. The shares were purchased at an average cost of C$53.85 per share, for a total transaction of C$53,850.00. Following the completion of the purchase, the insider now owns 1,080 shares in the company, valued at C$58,158. Also, Senior Officer Christopher John Merchant acquired 605 shares of the company’s stock in a transaction dated Thursday, March 17th. The shares were acquired at an average price of C$58.04 per share, for a total transaction of C$35,114.20. Following the completion of the purchase, the insider now owns 2,609 shares of the company’s stock, valued at approximately C$151,426.36. Insiders acquired a total of 2,004 shares of company stock worth $112,093 over the last 90 days.

About Linamar (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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