Brokerages Set Linamar Co. (LNR) PT at $80.80

Shares of Linamar Co. (TSE:LNR) have been assigned an average recommendation of “Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$80.80.

A number of brokerages have recently issued reports on LNR. CIBC cut their target price on Linamar from C$83.00 to C$70.00 in a research report on Wednesday, August 8th. TD Securities cut their target price on Linamar from C$73.00 to C$70.00 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. BMO Capital Markets cut their target price on Linamar from C$77.00 to C$70.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 8th. Finally, Royal Bank of Canada lowered their price target on Linamar from C$86.00 to C$83.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 8th.

Shares of LNR traded down C$1.23 during midday trading on Monday, reaching C$53.74. The stock had a trading volume of 326,100 shares, compared to its average volume of 229,558. Linamar has a 52 week low of C$52.08 and a 52 week high of C$80.58.

Linamar (TSE:LNR) last posted its quarterly earnings data on Tuesday, August 7th. The company reported C$2.98 EPS for the quarter, topping the Zacks’ consensus estimate of C$2.82 by C$0.16. Linamar had a return on equity of 14.62% and a net margin of 6.92%. The company had revenue of C$2.16 billion for the quarter, compared to the consensus estimate of C$2.06 billion.

In other news, Director Linda Hasenfratz bought 4,300 shares of the stock in a transaction on Tuesday, August 28th. The shares were purchased at an average price of C$57.71 per share, for a total transaction of C$248,153.00. Also, Director Mark Stoddart sold 5,500 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of C$54.28, for a total value of C$298,540.00. Insiders have sold 13,700 shares of company stock worth $740,708 in the last quarter.

About Linamar

Linamar Corporation manufactures and sells precision metallic components, modules, and systems in Canada, the United States, the Asia Pacific, Mexico, and Europe. It operates through two segments, Powertrain/Driveline and Industrial. The company offers hybrid power units, power transfer units, rear drive units/modules, and engineered gears; and shaft and shell assemblies, differential assemblies, transmission gears, clutch modules, center housings, transmission/driveline shafts, transfer case pump housings, and other transmission components.

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Analyst Recommendations for Linamar (TSE:LNR)

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