Linamar (TSE:LNR) Lowered to Hold Rating by TD Securities

TD Securities downgraded shares of Linamar (TSE:LNR) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning,BayStreet.CA reports. The firm currently has C$68.00 target price on the stock, down from their previous target price of C$89.00.

A number of other brokerages have also weighed in on LNR. BMO Capital Markets cut their target price on shares of Linamar from C$80.00 to C$75.00 in a research report on Wednesday. Scotiabank cut shares of Linamar from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from C$86.00 to C$77.00 in a research note on Tuesday, October 29th. Finally, CIBC reduced their price objective on shares of Linamar from C$88.00 to C$85.00 in a research note on Friday, November 8th.

Linamar Stock Performance

Shares of Linamar stock opened at C$59.88 on Wednesday. The firm has a market capitalization of C$3.69 billion, a P/E ratio of 6.11, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41. Linamar has a 12 month low of C$54.95 and a 12 month high of C$73.84. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 46.32. The business’s fifty day simple moving average is C$61.72 and its 200 day simple moving average is C$65.00.

Linamar (TSE:LNR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 EPS for the quarter, topping analysts’ consensus estimates of C$2.15 by C$0.20. The company had revenue of C$2.64 billion for the quarter, compared to analysts’ expectations of C$2.75 billion. Linamar had a net margin of 5.77% and a return on equity of 11.31%. As a group, analysts anticipate that Linamar will post 11.4332724 EPS for the current year.

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.