Linamar Co. (TSE:LNR)’s share price fell 6.3% on Thursday . The stock traded as low as C$50.00 and last traded at C$50.37. 283,561 shares were traded during trading, an increase of 19% from the average session volume of 239,219 shares. The stock had previously closed at C$53.73.

Several research firms recently weighed in on LNR. TD Securities lowered shares of Linamar from a “buy” rating to a “hold” rating and reduced their target price for the company from C$65.00 to C$64.00 in a report on Thursday. CIBC reduced their target price on shares of Linamar from C$83.00 to C$70.00 in a report on Wednesday, August 8th. BMO Capital Markets reduced their target price on shares of Linamar from C$77.00 to C$70.00 and set a “market perform” rating on the stock in a report on Wednesday, August 8th. Finally, Royal Bank of Canada reduced their target price on shares of Linamar from C$86.00 to C$83.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of C$79.60.

The company has a debt-to-equity ratio of 73.32, a current ratio of 1.92 and a quick ratio of 1.29.

Linamar (TSE:LNR) last released its quarterly earnings results on Tuesday, August 7th. The company reported C$2.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$2.82 by C$0.16. The firm had revenue of C$2.16 billion for the quarter, compared to analysts’ expectations of C$2.06 billion. As a group, sell-side analysts anticipate that Linamar Co. will post 10.0699999492354 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 23rd will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, November 22nd. Linamar’s dividend payout ratio (DPR) is 5.32%.

In related news, insider Salvatore Cocca sold 3,000 shares of Linamar stock in a transaction on Monday, September 24th. The shares were sold at an average price of C$46.70, for a total transaction of C$140,100.00. Also, Director Mark Stoddart sold 5,500 shares of Linamar stock in a transaction on Monday, August 13th. The stock was sold at an average price of C$54.28, for a total transaction of C$298,540.00. Insiders have sold a total of 13,700 shares of company stock worth $740,708 in the last ninety days.

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About Linamar (TSE:LNR)

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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