Martinrea International (TSE:MRE) Sets New 1-Year Low – What’s Next?

Shares of Martinrea International Inc. (TSE:MRE) hit a new 52-week low on Friday . The stock traded as low as C$7.26 and last traded at C$7.27, with a volume of 76919 shares changing hands. The stock had previously closed at C$7.48.

Wall Street Analyst Weigh In

Several research firms have commented on MRE. TD Securities lowered their price objective on Martinrea International from C$13.00 to C$12.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. BMO Capital Markets downgraded shares of Martinrea International from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from C$13.00 to C$11.00 in a report on Monday, December 16th. CIBC cut shares of Martinrea International from an “outperform” rating to a “neutral” rating and cut their price objective for the company from C$14.00 to C$9.00 in a report on Wednesday, March 5th. Raymond James lowered their target price on shares of Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, Cibc World Mkts lowered Martinrea International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Martinrea International currently has a consensus rating of “Hold” and a consensus price target of C$12.10.

Martinrea International Stock Performance

The stock has a market cap of C$534.45 million, a price-to-earnings ratio of 5.36, a P/E/G ratio of 0.82 and a beta of 2.08. The firm’s 50-day moving average is C$8.22 and its two-hundred day moving average is C$9.61. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 80.32.

Insider Activity

In other Martinrea International news, Senior Officer Francesco Barbara purchased 13,300 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were purchased at an average cost of C$7.90 per share, for a total transaction of C$105,070.00. Also, Senior Officer Peter Cirulis acquired 5,000 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of C$7.39 per share, with a total value of C$36,965.50. Insiders have bought a total of 44,500 shares of company stock worth $343,408 over the last quarter. 11.31% of the stock is currently owned by corporate 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.