Linamar (TSE:LNR) Given New C$90.00 Price Target at Scotiabank

Linamar (TSE:LNRFree Report) had its price target boosted by Scotiabank from C$85.00 to C$90.00 in a research report released on Thursday, BayStreet.CA reports.

A number of other research firms have also recently commented on LNR. Raymond James increased their price target on shares of Linamar from C$70.00 to C$74.00 in a report on Thursday. CIBC decreased their price target on Linamar from C$91.50 to C$90.00 and set an outperform rating for the company in a research note on Friday, April 19th. Finally, BMO Capital Markets lifted their price objective on Linamar from C$80.00 to C$90.00 in a report on Thursday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from, the stock presently has an average rating of Moderate Buy and an average price target of C$88.60.

View Our Latest Stock Analysis on Linamar

Linamar Stock Up 0.9 %

Shares of TSE LNR traded up C$0.62 during trading on Thursday, reaching C$70.87. The company had a trading volume of 167,053 shares, compared to its average volume of 85,931. Linamar has a 12-month low of C$56.78 and a 12-month high of C$78.89. The company has a quick ratio of 0.75, a current ratio of 1.59 and a debt-to-equity ratio of 33.30. The business’s 50-day moving average is C$68.12 and its 200 day moving average is C$64.59. The stock has a market cap of C$4.36 billion, a PE ratio of 8.67, a P/E/G ratio of 1.12 and a beta of 1.45.

Linamar (TSE:LNRGet Free Report) last announced its quarterly earnings results on Wednesday, March 6th. The company reported C$1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.75 by C$0.23. The company had revenue of C$2.45 billion for the quarter, compared to analysts’ expectations of C$2.40 billion. Linamar had a net margin of 5.17% and a return on equity of 9.93%. As a group, equities analysts forecast that Linamar will post 10.0864553 earnings per share for the current fiscal year.

Linamar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.41%. Linamar’s payout ratio is 12.24%.

Insider Buying and Selling

In other news, Senior Officer Michael Willard Russell bought 586 shares of the stock in a transaction on Monday, March 18th. The shares were bought at an average price of C$69.93 per share, with a total value of C$40,978.98. Following the completion of the acquisition, the insider now owns 586 shares in the company, valued at C$40,978.98. 35.92% of the stock is currently owned by corporate insiders.

About Linamar

(Get Free Report)

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.

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