Linamar (TSE:LNR) Sets New 1-Year High on Analyst Upgrade

Linamar Co. (TSE:LNR) reached a new 52-week high on Monday after Cibc World Mkts upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as C$74.65 and last traded at C$74.61, with a volume of 42756 shares changing hands. The stock had previously closed at C$73.37.

Several other research analysts also recently commented on LNR. BMO Capital Markets boosted their target price on Linamar from C$75.00 to C$80.00 in a report on Thursday, August 14th. TD Securities boosted their price objective on shares of Linamar from C$78.00 to C$85.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Scotiabank boosted their price objective on shares of Linamar from C$71.00 to C$80.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 14th. CIBC upgraded shares of Linamar from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from C$77.00 to C$87.00 in a research report on Tuesday. Finally, Raymond James Financial boosted their price objective on shares of Linamar from C$70.00 to C$80.00 and gave the stock a “market perform” rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Linamar has an average rating of “Moderate Buy” and a consensus price target of C$82.40.

Linamar Stock Down 0.2%

The firm’s 50-day simple moving average is C$67.82 and its 200 day simple moving average is C$58.97. The company has a market cap of C$4.53 billion, a P/E ratio of 7.73, a PEG ratio of 1.12 and a beta of 1.41. The company has a debt-to-equity ratio of 42.84, a quick ratio of 0.75 and a current ratio of 1.79.

Linamar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Friday, August 22nd will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from Linamar’s previous quarterly dividend of $0.25. Linamar’s dividend payout ratio is currently 10.44%.

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.