Linamar (TSE:LNR) Hits New 12-Month Low – Here’s What Happened

Linamar Co. (TSE:LNR) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$48.00 and last traded at C$49.10, with a volume of 111075 shares trading hands. The stock had previously closed at C$51.74.

Analysts Set New Price Targets

LNR has been the subject of several analyst reports. CIBC downgraded shares of Linamar from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from C$82.00 to C$55.00 in a report on Wednesday, March 5th. Cibc World Mkts lowered Linamar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. TD Securities reduced their price target on Linamar from C$66.00 to C$60.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Finally, BMO Capital Markets dropped their price objective on Linamar from C$75.00 to C$65.00 in a report on Thursday, March 6th.

Linamar Trading Down 6.2 %

The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75. The stock has a market cap of C$2.97 billion, a P/E ratio of 5.07, a PEG ratio of 1.12 and a beta of 1.41. The firm’s fifty day moving average price is C$53.12 and its two-hundred day moving average price is C$57.75.

Linamar Company Profile

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 and powered vehicle markets.