Linamar (TSE:LNR) Sets New 1-Year Low – Should You Sell?

Shares of Linamar Co. (TSE:LNR) reached a new 52-week low on Wednesday . The stock traded as low as C$54.88 and last traded at C$55.47, with a volume of 122825 shares. The stock had previously closed at C$57.21.

Analysts Set New Price Targets

LNR has been the subject of several recent analyst reports. Raymond James lowered their price target on Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. Scotiabank lowered shares of 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. TD Securities downgraded shares of Linamar from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$89.00 to C$68.00 in a research report on Wednesday, November 13th. CIBC cut their price objective on shares of Linamar from C$85.00 to C$84.00 in a research report on Thursday, November 14th. Finally, BMO Capital Markets lowered their target price on Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th.

Linamar Stock Down 3.8 %

The firm has a market cap of C$3.39 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 1.12 and a beta of 1.41. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 46.32. The firm’s 50 day simple moving average is C$59.33 and its two-hundred day simple moving average is C$62.50.

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

Insider Transactions at Linamar

In other Linamar news, insider Linamar Corporation bought 15,000 shares of the stock in a transaction on Monday, December 9th. The stock was acquired at an average cost of C$63.01 per share, for a total transaction of C$945,097.50. Also, Director Linda Hasenfratz bought 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average cost of C$60.01 per share, for a total transaction of C$3,000,500.00. Over the last three months, insiders have bought 90,101 shares of company stock worth $5,475,561. Insiders own 33.49% of the company’s stock.

Linamar Company Profile

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.