Linamar (TSE:LNR) Reaches New 1-Year High After Analyst Upgrade

Shares of Linamar Co. (TSE:LNR) hit a new 52-week high during trading on Tuesday after CIBC raised their price target on the stock from C$88.00 to C$99.00. CIBC currently has an outperform rating on the stock. Linamar traded as high as C$86.38 and last traded at C$86.22, with a volume of 18328 shares traded. The stock had previously closed at C$84.63.

Several other research analysts have also weighed in on LNR. TD Securities lifted their price objective on shares of Linamar from C$85.00 to C$96.00 in a research note on Thursday, November 13th. Scotiabank lifted their price target on shares of Linamar from C$80.00 to C$83.00 in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$87.60.

Linamar Price Performance

The stock has a market cap of C$5.16 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 1.12 and a beta of 1.63. The company has a 50 day simple moving average of C$79.50 and a 200-day simple moving average of C$74.22. The company has a current ratio of 1.79, a quick ratio of 0.75 and a debt-to-equity ratio of 42.84.

Linamar (TSE:LNR) last posted its quarterly earnings data on Wednesday, November 12th. The company reported C$2.51 earnings per share (EPS) for the quarter. Linamar had a return on equity of 10.73% and a net margin of 5.58%.The business had revenue of C$2.54 billion during the quarter. Research analysts expect that Linamar Co. will post 11.4332724 EPS for the current year.

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. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.