CIBC Issues Positive Forecast for Martinrea International (TSE:MRE) Stock Price

Martinrea International (TSE:MRE) had its price target raised by research analysts at CIBC from C$14.50 to C$14.75 in a report issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price objective would indicate a potential upside of 72.72% from the company’s previous close.

Several other equities research analysts also recently issued reports on MRE. BMO Capital Markets downgraded Martinrea International from an “outperform” rating to a “market perform” rating and cut their price target for the company from C$13.00 to C$11.00 in a report on Monday, December 16th. Raymond James dropped their target price on Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating for the company in a report on Friday. Finally, TD Securities dropped their target price on Martinrea International from C$18.00 to C$13.00 in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Martinrea International has an average rating of “Moderate Buy” and a consensus target price of C$13.45.

Martinrea International Stock Performance

Martinrea International stock traded up C$0.15 during mid-day trading on Monday, hitting C$8.54. 79,341 shares of the company’s stock traded hands, compared to its average volume of 175,738. The firm has a 50 day simple moving average of C$9.73 and a two-hundred day simple moving average of C$10.73. Martinrea International has a fifty-two week low of C$8.35 and a fifty-two week high of C$14.45. The stock has a market cap of C$638.88 million, a price-to-earnings ratio of 4.72, a P/E/G ratio of 0.82 and a beta of 2.08. The company has a debt-to-equity ratio of 83.13, a current ratio of 1.25 and a quick ratio of 0.68.

Insider Buying and Selling

In related news, Director Robert Peter Edward Wildeboer purchased 7,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of C$10.02 per share, for a total transaction of C$70,140.00. 11.31% of the stock is owned by company insiders.

About Martinrea International

Martinrea International Inc is a Canadian producer of steel and aluminium parts and fluid management systems. Its products are used primarily in the automotive sector by the majority of vehicle manufacturers. Martinrea manufactures aluminum engine blocks, specialized products, suspensions, chassis modules and components, and fluid management systems for fuel, power steering and brake fluids.