Linamar (TSE:LNR) Cut to “Hold” at TD Securities

Linamar (TSE:LNR) was downgraded by analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday,BayStreet.CA reports. They currently have a C$68.00 target price on the stock, down from their previous target price of C$89.00. TD Securities’ price objective would suggest a potential upside of 14.04% from the stock’s current price.

A number of other equities analysts have also recently weighed in on LNR. BMO Capital Markets reduced their price target on shares of Linamar from C$80.00 to C$75.00 in a research report on Wednesday. Scotiabank lowered Linamar from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$86.00 to C$77.00 in a research report on Tuesday, October 29th. Finally, CIBC dropped their target price on shares of Linamar from C$88.00 to C$85.00 in a report on Friday, November 8th.

Linamar Trading Down 1.4 %

Linamar stock traded down C$0.85 during mid-day trading on Wednesday, hitting C$59.63. The stock had a trading volume of 251,311 shares, compared to its average volume of 98,716. The stock has a 50-day simple moving average of C$61.79 and a two-hundred day simple moving average of C$65.04. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 46.32. The stock has a market capitalization of C$3.67 billion, a PE ratio of 6.08, a P/E/G ratio of 1.12 and a beta of 1.41. Linamar has a 12 month low of C$54.95 and a 12 month high of C$73.84.

Linamar (TSE:LNR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.15 by C$0.20. Linamar had a return on equity of 11.31% and a net margin of 5.77%. The business had revenue of C$2.64 billion for the quarter, compared to analyst estimates of C$2.75 billion. As a group, sell-side analysts forecast that Linamar will post 11.4332724 EPS for the current year.

About Linamar

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.