Linamar (TSE:LNR) Reaches New 1-Year Low – Here’s What Happened

Linamar Co. (TSE:LNR)’s share price reached a new 52-week low on Wednesday . The stock traded as low as C$54.88 and last traded at C$55.47, with a volume of 122825 shares traded. The stock had previously closed at C$57.21.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. BMO Capital Markets dropped their target price on shares of Linamar from C$80.00 to C$75.00 in a research report on Wednesday, November 13th. Scotiabank lowered Linamar from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$86.00 to C$77.00 in a report on Tuesday, October 29th. Raymond James dropped their price target on shares of Linamar from C$74.00 to C$70.00 in a research note on Thursday, November 14th. TD Securities downgraded Linamar from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$89.00 to C$68.00 in a research report on Wednesday, November 13th. Finally, CIBC dropped their price objective on Linamar from C$85.00 to C$84.00 in a report on Thursday, November 14th.

Linamar Stock Performance

The firm has a market capitalization of C$3.39 billion, a PE ratio of 5.62, a PEG ratio of 1.12 and a beta of 1.41. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32. The company has a 50-day moving average of C$59.33 and a 200 day moving average of C$62.50.

Linamar (TSE:LNR) last announced its earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.15 by C$0.20. Linamar had a net margin of 5.77% and a return on equity of 11.31%. The business had revenue of C$2.64 billion for the quarter, compared to the consensus estimate of C$2.75 billion. Equities research analysts predict that Linamar Co. will post 11.4332724 EPS for the current year.

Insiders Place Their Bets

In related news, Director Linda Hasenfratz acquired 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average price of C$60.01 per share, for a total transaction of C$3,000,500.00. Also, insider Linamar Corporation bought 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average price of C$63.01 per share, with a total value of C$945,097.50. Insiders bought a total of 90,101 shares of company stock valued at $5,475,561 over the last 90 days. Insiders own 33.49% of the company’s stock.

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.