Martinrea International (TSE:MRE) Stock Price Up 10.9% Following Analyst Upgrade

Martinrea International Inc. (TSE:MRE) rose 10.9% on Friday after Raymond James Financial raised their price target on the stock from C$12.00 to C$14.00. Raymond James Financial currently has an outperform rating on the stock. Martinrea International traded as high as C$10.88 and last traded at C$10.71. Approximately 289,682 shares changed hands during trading, an increase of 227% from the average daily volume of 88,632 shares. The stock had previously closed at C$9.66.

Separately, TD dropped their price objective on shares of Martinrea International from C$16.00 to C$15.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Martinrea International has an average rating of “Moderate Buy” and a consensus price target of C$13.62.

Martinrea International Trading Up 13.4%

The stock has a market cap of C$766.23 million, a PE ratio of 6.40, a price-to-earnings-growth ratio of 0.82 and a beta of 1.68. The company has a debt-to-equity ratio of 71.37, a quick ratio of 0.68 and a current ratio of 1.23. The company’s 50-day moving average price is C$9.91 and its 200 day moving average price is C$10.11.

Martinrea International (TSE:MRE) last released its quarterly earnings data on Thursday, November 12th. The company reported C$0.52 EPS for the quarter. The firm had revenue of C$1.18 billion for the quarter. Martinrea International had a return on equity of 7.89% and a net margin of 2.60%. On average, sell-side analysts forecast that Martinrea International Inc. will post 2.50 EPS for the current fiscal year.

Martinrea International Company Profile

Martinrea International Inc. is a leader in the development and production of quality metal parts, assemblies and modules, fluid management systems, and complex aluminum products focused primarily on the automotive sector. Martinrea currently operates in 56 locations in Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain, China, South Africa, and Japan. Martinrea’s vision is making lives better by being the best supplier we can be in the products we make and the services we provide.