Scotiabank Forecasts Strong Price Appreciation for Linamar (TSE:LNR) Stock

Linamar (TSE:LNR) had its price target upped by Scotiabank from C$61.00 to C$66.00 in a research note published on Thursday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts also recently weighed in on LNR. Cibc World Mkts downgraded shares of Linamar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. CIBC lowered shares of Linamar from an “outperform” rating to a “neutral” rating and cut their price objective for the company from C$82.00 to C$55.00 in a research report on Wednesday, March 5th. BMO Capital Markets dropped their price target on shares of Linamar from C$75.00 to C$65.00 in a research report on Thursday, March 6th. Finally, TD Securities decreased their target price on Linamar from C$60.00 to C$59.00 and set a “hold” rating on the stock in a report on Monday, April 28th.

Linamar Stock Up 9.3 %

LNR stock opened at C$57.99 on Thursday. The firm has a market capitalization of C$3.55 billion, a PE ratio of 6.05, a P/E/G ratio of 1.12 and a beta of 1.41. Linamar has a 12 month low of C$43.84 and a 12 month high of C$73.84. The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75. The company’s 50 day simple moving average is C$50.22 and its 200-day simple moving average is C$55.07.

Insiders Place Their Bets

In other news, Senior Officer Csaba Havasi sold 2,000 shares of Linamar stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of C$50.91, for a total value of C$101,816.40. 33.49% of the stock is currently owned by corporate insiders.

Linamar Company Profile

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.