Linamar (TSE:LNR) Reaches New 1-Year Low – Here’s Why

Linamar Co. (TSE:LNR) hit a new 52-week low on Thursday . The company traded as low as C$52.01 and last traded at C$52.30, with a volume of 33454 shares traded. The stock had previously closed at C$52.72.

Analyst Ratings Changes

A number of brokerages have weighed in on LNR. Raymond James lowered their price target on Linamar from C$74.00 to C$70.00 in a research report on Thursday, November 14th. BMO Capital Markets cut their target price on Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th. TD Securities lowered their price target on shares of Linamar from C$68.00 to C$66.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Scotiabank downgraded shares of Linamar from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$86.00 to C$77.00 in a report on Tuesday, October 29th. Finally, CIBC decreased their price objective on Linamar from C$85.00 to C$82.00 in a report on Monday, February 10th.

Linamar Stock Performance

The company’s 50-day simple moving average is C$56.05 and its 200 day simple moving average is C$59.80. The company has a current ratio of 1.79, a quick ratio of 0.75 and a debt-to-equity ratio of 42.84. The stock has a market cap of C$3.18 billion, a P/E ratio of 5.43, a PEG ratio of 1.12 and a beta of 1.41.

Insider Transactions at Linamar

In related news, Director Linda Hasenfratz purchased 50,000 shares of Linamar stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average price of C$60.01 per share, for a total transaction of C$3,000,500.00. Also, insider Linamar Corporation purchased 15,000 shares of Linamar stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average price of C$63.01 per share, for a total transaction of C$945,097.50. In the last ninety days, insiders purchased 90,101 shares of company stock valued at $5,475,561. Insiders own 33.49% of the company’s stock.

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.