Linamar (TSE:LNR) Given New C$110.00 Price Target at Canadian Imperial Bank of Commerce

Linamar (TSE:LNR) had its target price lifted by Canadian Imperial Bank of Commerce from C$105.00 to C$110.00 in a report released on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target indicates a potential upside of 14.68% from the company’s current price.

Several other research firms also recently commented on LNR. TD Securities upped their price objective on shares of Linamar from C$103.00 to C$114.00 and gave the company a “buy” rating in a report on Thursday, March 5th. 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 report on Tuesday, April 21st. Raymond James Financial lowered their price target on shares of Linamar from C$100.00 to C$90.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Finally, Scotiabank cut their price target on Linamar from C$99.00 to C$96.00 and set a “sector perform” rating on the stock in a research report on Friday, April 24th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Linamar currently has an average rating of “Moderate Buy” and a consensus price target of C$102.57.

Linamar Stock Performance

Shares of TSE:LNR traded up C$5.26 during trading on Thursday, hitting C$95.92. The stock had a trading volume of 173,372 shares, compared to its average volume of 122,692. The company has a quick ratio of 0.75, a current ratio of 1.73 and a debt-to-equity ratio of 34.42. Linamar has a 12-month low of C$55.67 and a 12-month high of C$98.65. The stock has a market capitalization of C$5.70 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 1.12 and a beta of 1.68. The stock has a 50-day simple moving average of C$87.25 and a two-hundred day simple moving average of C$84.31.

Linamar (TSE:LNR) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$3.28 earnings per share for the quarter. Linamar had a net margin of 5.71% and a return on equity of 9.92%. The company had revenue of C$2.94 billion for the quarter. On average, equities research analysts expect that Linamar will post 11.4332724 earnings per share for the current fiscal year.

About Linamar

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.