TD Securities Lowers Linamar (TSE:LNR) Price Target to C$89.00

Linamar (TSE:LNR) had its target price reduced by stock analysts at TD Securities from C$92.00 to C$89.00 in a research note issued to investors on Monday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 41.65% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. CIBC decreased their target price on Linamar from C$92.00 to C$88.00 in a report on Friday, August 9th. BMO Capital Markets cut their price target on Linamar from C$90.00 to C$80.00 in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$84.20.

Linamar Price Performance

Shares of Linamar stock opened at C$62.83 on Monday. Linamar has a one year low of C$56.78 and a one year high of C$73.84. The stock’s fifty day moving average is C$63.18 and its 200 day moving average is C$66.54. The stock has a market cap of C$3.87 billion, a P/E ratio of 6.41, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68.

Linamar (TSE:LNR) last announced its earnings results on Thursday, August 8th. The company reported C$3.06 EPS for the quarter, topping analysts’ consensus estimates of C$2.70 by C$0.36. Linamar had a return on equity of 11.31% and a net margin of 5.77%. The company had revenue of C$2.85 billion for the quarter, compared to analysts’ expectations of C$2.92 billion. Sell-side analysts anticipate that Linamar will post 11.4332724 earnings per share for the current year.

Linamar Company Profile

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.