Linamar (LNR) Receives a Hold from BMO Capital

By Ryan Adsit

The Conglomerates sector company, Linamar (TSX: LNR), has received a rating update from a Wall Street analyst today. BMO Capital’s analyst Peter Sklar reiterates their Hold rating on the shares, with a C$70 price target.

According to TipRanks.com, Sklar is ranked #1279 out of 4850 analysts.

Linamar has an analyst consensus of Moderate Buy, with a price target consensus of C$83.

Based on Linamar’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$157 million. In comparison, last year the company had a net profit of C$162 million.

Linamar Corp. is a diversified manufacturing company, which engages in engineered products powering vehicles, motion, work and lives. It operates through the following segments: Powertrain & Driveline, and Industrial.

The company’s shares closed on Wednesday at C$54.99, close to its 52-week low of C$54.05.