Raymond James Financial Forecasts Strong Price Appreciation for Linamar (TSE:LNR) Stock

Linamar (TSE:LNR) had its price target hoisted by analysts at Raymond James Financial from C$85.00 to C$100.00 in a research note issued on Thursday,BayStreet.CA reports. Raymond James Financial’s target price indicates a potential upside of 13.07% from the company’s current price.

Several other equities research analysts have also weighed in on LNR. Canadian Imperial Bank of Commerce lifted their price objective on Linamar from C$88.00 to C$99.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. TD Securities increased their target price on shares of Linamar from C$96.00 to C$103.00 in a research report on Thursday, February 5th. Finally, Scotiabank lifted their target price on shares of Linamar from C$83.00 to C$98.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$99.40.

Linamar Trading Down 7.1%

TSE LNR opened at C$88.44 on Thursday. The business’s fifty day moving average is C$89.17 and its 200-day moving average is C$81.03. The company has a debt-to-equity ratio of 35.80, a current ratio of 1.84 and a quick ratio of 0.75. The stock has a market capitalization of C$5.29 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.12 and a beta of 1.72. Linamar has a one year low of C$43.84 and a one year high of C$98.65.

Linamar (TSE:LNR) last posted its quarterly earnings results on Wednesday, March 4th. The company reported C$2.28 earnings per share for the quarter. The company had revenue of C$2.52 billion during the quarter. Linamar had a net margin of 2.39% and a return on equity of 4.22%. Equities research analysts predict that Linamar will post 11.4332724 EPS for the current year.

Insiders Place Their Bets

In other Linamar news, insider Alexander Drolc sold 427 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of C$88.00, for a total value of C$37,576.00. 33.49% of the stock is owned by corporate insiders.

Linamar Company Profile

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company’s Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.