Linamar (TSE:LNR) Price Target Raised to C$92.00 at CIBC

Linamar (TSE:LNR) had its price objective raised by equities researchers at CIBC from C$90.00 to C$92.00 in a research note issued on Thursday, BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 29.80% from the company’s previous close.

A number of other analysts have also recently commented on the stock. BMO Capital Markets upped their price target on shares of Linamar from C$80.00 to C$90.00 in a research note on Thursday. Raymond James raised their price target on Linamar from C$70.00 to C$74.00 in a report on Thursday. Finally, Scotiabank boosted their price objective on Linamar from C$85.00 to C$90.00 in a research note on Thursday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$88.60.

Linamar Stock Performance

Linamar stock traded up C$5.09 during trading on Thursday, hitting C$70.88. The stock had a trading volume of 220,657 shares, compared to its average volume of 84,197. The company has a quick ratio of 0.75, a current ratio of 1.59 and a debt-to-equity ratio of 33.30. The stock’s 50 day moving average is C$67.94 and its two-hundred day moving average is C$64.50. Linamar has a 1 year low of C$56.78 and a 1 year high of C$78.89. The stock has a market cap of C$4.36 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 1.12 and a beta of 1.45.

Linamar (TSE:LNR) last posted its quarterly earnings results on Wednesday, March 6th. The company reported C$1.98 earnings per share for the quarter, topping the consensus estimate of C$1.75 by C$0.23. Linamar had a return on equity of 9.93% and a net margin of 5.17%. The company had revenue of C$2.45 billion during the quarter, compared to the consensus estimate of C$2.40 billion. As a group, analysts predict that Linamar will post 10.0864553 EPS for the current year.

Insiders Place Their Bets

In other Linamar news, Senior Officer Michael Willard Russell bought 586 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average cost of C$69.93 per share, with a total value of C$40,978.98. Following the completion of the purchase, the insider now directly owns 586 shares of the company’s stock, valued at C$40,978.98. Insiders own 35.92% of the company’s stock.

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.