Linamar Co. (LNR) Sets New 1-Year High Following Analyst Upgrade

Linamar Co. (TSE:LNR) reached a new 52-week high during trading on Thursday after CIBC raised their price target on the stock from C$69.00 to C$81.00. The stock traded as high as C$76.58 and last traded at C$75.53, with a volume of 75,870 shares traded. The stock had previously closed at C$74.99.

LNR has been the subject of several other reports. TD Securities reduced their price objective on Linamar from C$73.00 to C$72.00 and set a “hold” rating for the company in a report on Thursday, August 3rd. BMO Capital Markets set a C$70.00 price target on Linamar and gave the company a “market perform” rating in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada boosted their price target on Linamar from C$71.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Linamar has a consensus rating of “Hold” and a consensus price target of C$76.40.

In other news, insider Jose Manuel Chaves purchased 2,000 shares of the business’s stock in a transaction on Friday, July 7th. The stock was acquired at an average cost of C$63.16 per share, for a total transaction of C$126,320.00. Also, insider Alexander Drolc sold 651 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of C$70.00, for a total value of C$45,570.00.

The stock has a market capitalization of $4.97 billion and a price-to-earnings ratio of 9.22. The stock’s 50 day moving average price is $69.18 and its 200-day moving average price is $63.75.

Linamar (TSE:LNR) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported C$2.45 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.35 by C$0.10. The business had revenue of C$1.77 billion for the quarter, compared to analyst estimates of C$1.71 billion. Linamar had a return on equity of 22.89% and a net margin of 9.17%. Analysts anticipate that Linamar Co. will post $8.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This is a positive change from Linamar’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.63%.

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Linamar Company Profile

Linamar Corporation is a Canada-based diversified manufacturing company of engineered products powering vehicles, motion, work and lives. The Company operates through two segments: the Powertrain/Driveline and the Industrial. The segments are divided into four operating groups: Machining & Assembly, Light Metal Casting, Forging and Skyjack.

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