Canadian Imperial Bank of Commerce Issues Positive Forecast for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its target price raised by research analysts at Canadian Imperial Bank of Commerce from C$99.00 to C$105.00 in a report issued on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price would indicate a potential upside of 18.30% from the stock’s previous close.

LNR has been the topic of a number of other reports. Scotiabank lifted their price objective on Linamar from C$83.00 to C$98.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 27th. Raymond James Financial lifted their price target on shares of Linamar from C$85.00 to C$100.00 in a report on Thursday. Finally, TD Securities increased their price objective on shares of Linamar from C$103.00 to C$114.00 and gave the stock a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$99.40.

Linamar Stock Performance

TSE LNR traded down C$6.44 during trading hours on Friday, hitting C$88.76. 118,345 shares of the company’s stock traded hands, compared to its average volume of 113,781. Linamar has a 52 week low of C$43.84 and a 52 week high of C$98.65. The firm has a market capitalization of C$5.31 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.12 and a beta of 1.72. The company has a current ratio of 1.84, a quick ratio of 0.75 and a debt-to-equity ratio of 35.80. The business’s fifty day moving average price is C$89.07 and its two-hundred day moving average price is C$80.92.

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

Insider Buying and Selling at Linamar

In related news, insider Alexander Drolc sold 427 shares of Linamar stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of C$88.00, for a total transaction of C$37,576.00. Corporate insiders own 33.49% of the company’s stock.

About Linamar

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.