Linamar Co. (TSE:LNR) had its price target lifted by Royal Bank Of Canada from C$71.00 to C$74.00 in a report issued on Thursday. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 7.81% from the stock’s previous close.
A number of other analysts have also recently commented on the stock. TD Securities cut their price target on shares of Linamar from C$73.00 to C$72.00 and set a “hold” rating for the company in a research note on Thursday. CIBC increased their price target on shares of Linamar from C$65.00 to C$69.00 in a research note on Friday, May 12th. Finally, Scotiabank increased their price target on shares of Linamar from C$80.00 to C$85.00 and gave the company an “outperform” rating in a research note on Thursday, May 11th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of C$74.00.
Linamar (TSE:LNR) opened at 68.64 on Thursday. The company has a market cap of $4.48 billion and a P/E ratio of 8.31. The company has a 50-day moving average of $65.70 and a 200 day moving average of $61.21. Linamar has a one year low of $47.00 and a one year high of $68.98.
Linamar (TSE:LNR) last announced its earnings results on Wednesday, August 2nd. The company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.35 by $0.10. Linamar had a net margin of 8.76% and a return on equity of 21.77%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Equities research analysts predict that Linamar will post $8.22 EPS for the current year.
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In other news, insider Jose Manuel Chaves purchased 2,000 shares of the business’s stock in a transaction on Friday, July 7th. The stock was purchased at an average price of C$63.16 per share, for a total transaction of C$126,320.00. Also, Director William Harrison sold 5,000 shares of the stock in a transaction on Monday, June 26th. The shares were sold at an average price of C$63.75, for a total transaction of C$318,750.00.
About Linamar
Linamar Corporation manufactures and sells precision metallic components, modules, and systems in Canada, United States, the Asia Pacific, Mexico, and Europe. It operates through two segments, Powertrain/Driveline and Industrial. The company offers hybrid power units, power transfer units, rear drive units/modules, and engineered gears; and shaft and shell assemblies, differential assemblies, transmission gears, clutch modules, center housings, transmission/driveline shafts, transfer case pump housings, and other transmission components.
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