Raymond James Financial Forecasts Strong Price Appreciation for Linamar (TSE:LNR) Stock

Linamar (TSE:LNR) had its price target lifted by research analysts at Raymond James Financial from C$85.00 to C$100.00 in a research note issued on Thursday,BayStreet.CA reports. Raymond James Financial’s target price suggests a potential upside of 6.35% from the company’s current price.

Several other analysts also recently issued reports on LNR. TD Securities lifted their price target on Linamar from C$96.00 to C$103.00 in a research note on Thursday, February 5th. Scotiabank increased their price target on Linamar from C$83.00 to C$98.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 27th. Finally, Canadian Imperial Bank of Commerce lifted their price target on Linamar from C$88.00 to C$99.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Linamar currently has a consensus rating of “Moderate Buy” and a consensus price target of C$98.20.

Linamar Stock Performance

LNR stock traded up C$1.35 during mid-day trading on Thursday, reaching C$94.03. 136,322 shares of the stock traded hands, compared to its average volume of 112,295. The company has a quick ratio of 0.75, a current ratio of 1.84 and a debt-to-equity ratio of 35.80. The business has a 50-day moving average of C$88.84 and a two-hundred day moving average of C$80.82. The firm has a market capitalization of C$5.62 billion, a PE ratio of 22.82, a P/E/G ratio of 1.12 and a beta of 1.60. Linamar has a 52 week low of C$43.84 and a 52 week high of C$98.65.

Linamar (TSE:LNR) last announced its quarterly earnings data on Wednesday, March 4th. The company reported C$2.28 EPS for the quarter. Linamar had a return on equity of 4.22% and a net margin of 2.39%.The company had revenue of C$2.52 billion during the quarter. As a group, equities analysts predict that Linamar will post 11.4332724 EPS for the current fiscal year.

Insider Activity

In related news, insider Alexander Drolc sold 427 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of C$88.00, for a total value of C$37,576.00. 33.49% of the stock is currently owned by insiders.

Linamar Company Profile

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company’s Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.