Linamar (TSE:LNR) Hits New 52-Week High After Analyst Upgrade

Linamar Co. (TSE:LNR) reached a new 52-week high during trading on Thursday after CIBC raised their price target on the stock from C$87.00 to C$88.00. The company traded as high as C$79.65 and last traded at C$79.54, with a volume of 51597 shares traded. The stock had previously closed at C$75.54.

A number of other brokerages have also recently issued reports on LNR. TD Securities upped their target price on shares of Linamar from C$85.00 to C$96.00 in a report on Thursday. BMO Capital Markets raised their price objective on Linamar from C$75.00 to C$80.00 in a research report on Thursday, August 14th. Cibc World Mkts raised Linamar from a “hold” rating to a “strong-buy” rating in a report on Monday, August 25th. Raymond James Financial raised their price target on Linamar from C$70.00 to C$80.00 and gave the company a “market perform” rating in a report on Thursday, August 14th. Finally, Scotiabank upped their price objective on shares of Linamar from C$80.00 to C$83.00 in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Linamar currently has a consensus rating of “Moderate Buy” and a consensus target price of C$85.40.

Linamar Stock Down 0.7%

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 firm has a market cap of C$4.72 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.12 and a beta of 1.65. The firm’s 50 day simple moving average is C$75.15 and its two-hundred day simple moving average is C$68.86.

Linamar Company Profile

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company’s Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications.