Scotiabank Has Lowered Expectations for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its target price lowered by stock analysts at Scotiabank from C$99.00 to C$96.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 12.81% from the stock’s previous close.

LNR has been the subject of a number of other reports. Canadian Imperial Bank of Commerce boosted their target price on shares of Linamar from C$99.00 to C$105.00 in a research note on Friday, March 6th. TD boosted their target price on shares of Linamar from C$114.00 to C$116.00 and gave the company a “buy” rating in a research note on Tuesday. Raymond James Financial reduced their target price on shares of Linamar from C$100.00 to C$90.00 and set a “market perform” rating for the company in a research note on Thursday, April 16th. Finally, TD Securities boosted their target price on shares of Linamar from C$103.00 to C$114.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Linamar presently has an average rating of “Moderate Buy” and an average price target of C$100.17.

Linamar Stock Performance

Shares of TSE LNR traded down C$0.75 during midday trading on Friday, hitting C$85.10. The company’s stock had a trading volume of 34,589 shares, compared to its average volume of 119,823. Linamar has a 1-year low of C$48.80 and a 1-year high of C$98.65. The firm’s fifty day moving average price is C$88.16 and its 200-day moving average price is C$83.40. The company has a debt-to-equity ratio of 34.42, a quick ratio of 0.75 and a current ratio of 1.73. The firm has a market cap of C$5.06 billion, a P/E ratio of 8.75, a P/E/G ratio of 1.12 and a beta of 1.58.

Linamar (TSE:LNR) last posted its quarterly earnings results on Wednesday, March 4th. The company reported C$2.28 EPS for the quarter. Linamar had a net margin of 5.71% and a return on equity of 9.92%. The business had revenue of C$2.52 billion during the quarter. On average, sell-side analysts forecast that Linamar will post 11.4332724 EPS for the current fiscal year.

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.