Linamar (TSE:LNR) Downgraded by TD Securities to “Hold”

TD Securities downgraded shares of Linamar (TSE:LNR) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday,Zacks reports.

Several other research firms have also recently weighed in on LNR. Scotia cut their target price on shares of Linamar from C$111.00 to C$103.00 and set a “sector perform” rating for the company in a research note on Thursday. BMO Capital Markets cut shares of Linamar from an “outperform” rating to a “hold” rating and set a C$105.00 price target on the stock. in a research note on Friday, September 18th. Scotiabank increased their price objective on shares of Linamar from C$102.00 to C$114.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. TD lowered shares of Linamar from a “buy” rating to a “hold” rating and cut their target price for the company from C$120.00 to C$106.00 in a report on Thursday. Finally, Canadian Imperial Bank of Commerce boosted their price objective on Linamar from C$115.00 to C$120.00 in a research note on Thursday, August 13th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$108.86.

Linamar Trading Down 5.6%

Linamar stock opened at C$87.61 on Thursday. The business has a 50-day simple moving average of C$94.85 and a two-hundred day simple moving average of C$94.99. The company has a market cap of C$5.17 billion, a P/E ratio of 7.64, a P/E/G ratio of 1.12 and a beta of 1.53. Linamar has a 52-week low of C$73.27 and a 52-week high of C$110.58. The company has a quick ratio of 0.75, a current ratio of 1.88 and a debt-to-equity ratio of 32.89.

Linamar (TSE:LNR) last issued its quarterly earnings data on Wednesday, November 4th. The company reported C$2.59 earnings per share for the quarter. Linamar had a net margin of 6.15% and a return on equity of 10.96%. The firm had revenue of C$3.08 billion for the quarter. Analysts predict that Linamar will post 11.43 EPS for the current year.

Linamar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. Linamar’s payout ratio is currently 10.12%.

Insider Activity at Linamar

In other news, Director Mark Stoddart sold 18,932 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$105.58, for a total value of C$1,998,840.56. Following the transaction, the director directly owned 455,914 shares in the company, valued at approximately C$48,135,400.12. This represents a 3.99% decrease in their ownership of the stock. Insiders own 33.49% of the company’s stock.

Trending Headlines about Linamar

Here are the key news stories impacting Linamar this week:

• Positive Sentiment: Third-quarter results showed EPS of C$2.59 on revenue of C$3.08 billion; reports characterized both earnings and sales as higher. Linamar Reports Higher Earnings, Sales for Third Quarter
• Positive Sentiment: Linamar announced a buyback of up to 3,723,719 shares, equal to 6.38% of its issued share capital. Repurchases can support per-share earnings and signal confidence in the company’s value. Linamar Corporation announces an Equity Buyback
• Positive Sentiment: The company declared a quarterly dividend of C$0.32 per share, equivalent to C$1.28 annually and a yield of about 1.5%.
• Negative Sentiment: TD Cowen lowered its rating from “buy” to “hold” and cut its price target from C$120 to C$106. Scotia also reduced its target, from C$111 to C$103, while maintaining a “sector perform” rating. The target cuts and more cautious ratings may weigh on sentiment, despite both targets remaining above the recent share price. TD Cowen Downgrades Linamar to Hold

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.