Linamar (TSE:LNR) was downgraded by equities researchers at TD Securities from a “buy” rating to a “hold” rating in a research note issued on Thursday. They currently have a C$64.00 target price on the stock, down from their prior target price of C$65.00. TD Securities’ target price points to a potential upside of 32.75% from the company’s previous close.
Several other analysts also recently issued reports on the stock. CIBC raised shares of Linamar from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$70.00 to C$82.00 in a research report on Thursday, September 13th. BMO Capital Markets reduced their price target on shares of Linamar from C$77.00 to C$70.00 and set a “market perform” rating for the company in a research report on Wednesday, August 8th. Finally, Royal Bank of Canada reduced their price target on shares of Linamar from C$86.00 to C$83.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Linamar currently has an average rating of “Buy” and an average price target of C$79.60.
Shares of LNR stock opened at C$48.21 on Thursday. Linamar has a 52 week low of C$47.60 and a 52 week high of C$77.16. The company has a debt-to-equity ratio of 73.32, a quick ratio of 1.29 and a current ratio of 1.92.
In other Linamar news, Director Mark Stoddart sold 5,500 shares of Linamar stock in a transaction on Monday, August 13th. The shares were sold at an average price of C$54.28, for a total transaction of C$298,540.00. Also, insider Salvatore Cocca sold 3,000 shares of Linamar stock in a transaction on Monday, September 24th. The stock was sold at an average price of C$46.70, for a total transaction of C$140,100.00. In the last three months, insiders sold 13,700 shares of company stock valued at $740,708.
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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