Linamar (TSE:LNR) Stock Rating Lowered by TD

Linamar (TSE:LNR) was downgraded by analysts at TD from a “buy” rating to a “hold” rating in a research report issued on Thursday, BayStreet reports. They currently have a C$106.00 target price on the stock, down from their previous target price of C$120.00. TD‘s price objective would suggest a potential upside of 22.84% from the company’s previous close.

LNR has been the subject of several other reports. Scotiabank lifted their target price on shares of Linamar from C$102.00 to C$114.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Scotia cut their price target on Linamar from C$111.00 to C$103.00 and set a “sector perform” rating on the stock in a research note on Thursday. BMO Capital Markets downgraded Linamar from an “outperform” rating to a “hold” rating and set a C$105.00 price target on the stock. in a research note on Friday, September 18th. Finally, Canadian Imperial Bank of Commerce raised their price objective on Linamar from C$115.00 to C$120.00 in a research report on Thursday, August 13th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$108.86.

Linamar Stock Down 1.5%

Shares of Linamar stock traded down C$1.32 during trading on Thursday, hitting C$86.29. The company’s stock had a trading volume of 154,742 shares, compared to its average volume of 139,783. The company has a debt-to-equity ratio of 30.14, a quick ratio of 0.75 and a current ratio of 1.88. The company has a fifty day simple moving average of C$94.61 and a two-hundred day simple moving average of C$94.99. The company has a market capitalization of C$5.09 billion, a PE ratio of 7.53, a P/E/G ratio of 1.12 and a beta of 1.53. Linamar has a 52 week low of C$73.27 and a 52 week high of C$110.58.

Linamar (TSE:LNR) last issued its quarterly earnings results on Wednesday, November 4th. The company reported C$2.59 earnings per share (EPS) for the quarter. The company had revenue of C$3.08 billion during the quarter. Linamar had a net margin of 5.69% and a return on equity of 10.39%. Equities research analysts predict that Linamar will post 11.43 earnings per share for the current year.

Insider Transactions at Linamar

In other Linamar news, Director Mark Stoddart sold 18,932 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of C$105.58, for a total transaction of C$1,998,840.56. Following the sale, the director directly owned 455,914 shares in the company, valued at approximately C$48,135,400.12. This trade represents a 3.99% decrease in their position. Company insiders own 33.49% of the company’s stock.

More Linamar News

Here are the key news stories impacting Linamar this week:

• Positive Sentiment: Linamar reported higher third-quarter earnings and sales, with EPS of C$2.59 and revenue of C$3.08 billion. Linamar Reports Higher Earnings, Sales for Third Quarter
• Positive Sentiment: The company announced a buyback of 3,723,719 shares—6.38% of its issued share capital—which could support per-share value by reducing the share count. Linamar Announces an Equity Buyback
• Positive Sentiment: Linamar declared a quarterly dividend of $0.32 per share, equivalent to a $1.28 annualized payout and a reported 1.5% yield.
• Negative Sentiment: TD Securities (also identified as TD Cowen in coverage) lowered its rating to “hold” from “buy” or “strong-buy” and cut its price target to C$106 from C$120. The downgrade may temper investor expectations despite the target’s stated upside. TD Cowen Downgrades Linamar to Hold
• Negative Sentiment: Scotia reduced its price target to C$103 from C$111 and maintained a “sector perform” rating, signaling a more cautious outlook. Scotia stock recommendations

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.