Scotiabank Issues Positive Forecast for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its price target increased by analysts at Scotiabank from C$102.00 to C$114.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 9.05% from the stock’s previous close.

Several other analysts have also recently commented on the company. Scotia lifted their price target on Linamar from C$96.00 to C$99.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce raised their target price on shares of Linamar from C$115.00 to C$120.00 in a research report on Thursday. Raymond James Financial boosted their target price on shares of Linamar from C$90.00 to C$100.00 and gave the company a “market perform” rating in a report on Thursday, May 7th. Finally, TD upped their price target on shares of Linamar from C$119.00 to C$123.00 and gave the stock a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$107.14.

Linamar Trading Down 2.4%

Shares of LNR stock traded down C$2.53 during mid-day trading on Thursday, hitting C$104.54. 190,712 shares of the company’s stock were exchanged, compared to its average volume of 123,168. The stock has a market cap of C$6.19 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 1.12 and a beta of 1.71. The company has a quick ratio of 0.75, a current ratio of 1.50 and a debt-to-equity ratio of 35.07. Linamar has a fifty-two week low of C$69.84 and a fifty-two week high of C$108.29. The stock has a 50-day simple moving average of C$102.48 and a two-hundred day simple moving average of C$94.62.

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.