Linamar (LNR) Upgraded to Outperform at CIBC
Linamar (TSE:LNR) was upgraded by CIBC from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday. The brokerage presently has a C$82.00 price objective on the stock, up from their previous price objective of C$70.00. CIBC’s price target indicates a potential upside of 32.60% from the stock’s previous close.
Several other research analysts have also issued reports on LNR. TD Securities upgraded shares of Linamar from a “hold” rating to a “buy” rating and decreased their price target for the stock from C$80.00 to C$73.00 in a research report on Friday, July 27th. Royal Bank of Canada decreased their price target on shares of Linamar from C$86.00 to C$83.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 8th. Finally, BMO Capital Markets lifted their price target on shares of Linamar from C$70.00 to C$77.00 in a research report on Wednesday, May 16th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Linamar has an average rating of “Buy” and an average target price of C$80.80.
TSE:LNR traded up C$3.40 during midday trading on Thursday, hitting C$61.84. 403,151 shares of the stock were exchanged, compared to its average volume of 216,834. Linamar has a one year low of C$52.08 and a one year high of C$80.58.
In other Linamar news, Director Mark Stoddart sold 1,000 shares of Linamar stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of C$56.41, for a total value of C$56,410.00. Also, Director Linda Hasenfratz purchased 4,300 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was acquired at an average price of C$57.71 per share, for a total transaction of C$248,153.00.
Linamar Company Profile
Linamar Corporation manufactures and sells precision metallic components, modules, and systems in Canada, the 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.
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