TD Securities Lowers Linamar (LNR) Price Target to C$80.00

Linamar (TSE:LNR) had its price target decreased by equities research analysts at TD Securities from C$82.00 to C$80.00 in a report issued on Wednesday. The brokerage currently has a “hold” rating on the stock. TD Securities’ target price would indicate a potential upside of 14.66% from the stock’s previous close.

A number of other brokerages also recently issued reports on LNR. Scotiabank increased their price objective on shares of Linamar from C$96.00 to C$99.00 and gave the stock an “outperform” rating in a research note on Friday, March 9th. BMO Capital Markets reduced their price objective on shares of Linamar from C$74.00 to C$70.00 and set a “market perform” rating on the stock in a research note on Friday, March 9th. Gabelli reiterated a “buy” rating on shares of Linamar in a research note on Thursday, March 8th. Royal Bank of Canada increased their price objective on shares of Linamar from C$80.00 to C$81.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 18th. Finally, CIBC increased their price objective on shares of Linamar from C$81.00 to C$85.00 in a research note on Thursday, March 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$85.00.

Linamar opened at C$69.77 on Wednesday, MarketBeat.com reports. Linamar has a 52 week low of C$60.50 and a 52 week high of C$80.58.

Linamar (TSE:LNR) last released its quarterly earnings results on Wednesday, March 7th. The company reported C$1.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.82 by C($0.01). The business had revenue of C$1.57 billion during the quarter, compared to analyst estimates of C$1.55 billion. Linamar had a net margin of 6.92% and a return on equity of 14.62%.

In other Linamar news, Director William Harrison sold 600 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of C$73.18, for a total transaction of C$43,908.00.

About Linamar

Linamar Corporation manufactures and sells precision metallic components, modules, and systems in Canada, United States, the Asia Pacific, Mexico, and Europe. It operates through two segments, Powertrain/Driveline and Industrial. The company offers hybrid power units, power transfer units, rear drive units/modules, and engineered gears; and shaft and shell assemblies, differential assemblies, transmission gears, clutch modules, center housings, transmission/driveline shafts, transfer case pump housings, and other transmission components.

Analyst Recommendations for Linamar (TSE:LNR)

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