CIBC Lowers Linamar (TSE:LNR) Price Target to C$90.00

Linamar (TSE:LNR) had its price objective cut by CIBC from C$91.50 to C$90.00 in a research note published on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Separately, Scotiabank lifted their price target on Linamar from C$82.00 to C$85.00 and gave the stock an outperform rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of C$82.20.

Linamar Stock Up 0.0 %

Linamar stock opened at C$64.63 on Friday. The stock has a market capitalization of C$3.98 billion, a PE ratio of 7.91, a price-to-earnings-growth ratio of 1.12 and a beta of 1.45. Linamar has a 12 month low of C$56.78 and a 12 month high of C$78.89. The business has a 50 day simple moving average of C$68.31 and a 200-day simple moving average of C$64.47. The company has a debt-to-equity ratio of 33.30, a current ratio of 1.59 and a quick ratio of 0.75.

Linamar (TSE:LNR) last posted its quarterly earnings data on Wednesday, March 6th. The company reported C$1.98 EPS for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.23. The business had revenue of C$2.45 billion during the quarter, compared to analysts’ expectations of C$2.40 billion. Linamar had a return on equity of 9.93% and a net margin of 5.17%. On average, analysts anticipate that Linamar will post 10.0864553 EPS for the current fiscal year.

Linamar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.55%. This is a positive change from Linamar’s previous quarterly dividend of $0.22. Linamar’s payout ratio is 12.24%.

Insiders Place Their Bets

In related news, Senior Officer Michael Willard Russell acquired 586 shares of the stock in a transaction on Monday, March 18th. The shares were bought at an average price of C$69.93 per share, with a total value of C$40,978.98. Following the completion of the purchase, the insider now owns 586 shares of the company’s stock, valued at approximately C$40,978.98. 35.92% of the stock is currently owned by corporate insiders.

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 powered vehicle markets.