Insider Buying: Linamar Co. (TSE:LNR) Director Buys 50,000 Shares of Stock

Linamar Co. (TSE:LNR) Director Linda Hasenfratz purchased 50,000 shares of Linamar stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average cost of C$60.01 per share, with a total value of C$3,000,500.00.

Linamar Stock Down 1.7 %

Linamar stock opened at C$58.66 on Wednesday. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68. The stock has a market cap of C$3.61 billion, a PE ratio of 5.99, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41. Linamar Co. has a fifty-two week low of C$54.95 and a fifty-two week high of C$73.84. The firm’s 50-day simple moving average is C$61.25 and its 200 day simple moving average is C$63.79.

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

Wall Street Analyst Weigh In

LNR has been the subject of a number of analyst reports. CIBC reduced their price objective on shares of Linamar from C$85.00 to C$84.00 in a report on Thursday, November 14th. Scotiabank downgraded Linamar from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$86.00 to C$77.00 in a research note on Tuesday, October 29th. Raymond James lowered their price objective on Linamar from C$74.00 to C$70.00 in a research note on Thursday, November 14th. TD Securities cut Linamar from a “buy” rating to a “hold” rating and cut their target price for the company from C$89.00 to C$68.00 in a research report on Wednesday, November 13th. Finally, BMO Capital Markets decreased their price target on Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th.

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 and powered vehicle markets.