Martinrea International (TSE:MRE) Price Target Cut to C$17.50

Martinrea International (TSE:MRE) had its price target dropped by investment analysts at CIBC from C$18.00 to C$17.50 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s target price would suggest a potential upside of 49.57% from the stock’s previous close.

A number of other equities research analysts have also weighed in on MRE. TD Securities lowered shares of Martinrea International from an “action list buy” rating to a “buy” rating and decreased their price objective for the company from C$21.00 to C$19.00 in a report on Friday, March 1st. Raymond James reduced their price target on shares of Martinrea International from C$20.00 to C$18.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Finally, Scotiabank reduced their price target on shares of Martinrea International from C$15.00 to C$14.50 in a report on Friday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Martinrea International currently has an average rating of “Moderate Buy” and an average price target of C$18.25.

Martinrea International Trading Down 2.0 %

Shares of MRE stock traded down C$0.24 during trading hours on Monday, reaching C$11.70. 103,242 shares of the stock were exchanged, compared to its average volume of 209,367. Martinrea International has a 12-month low of C$10.75 and a 12-month high of C$15.16. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 84.42. The company’s 50-day moving average price is C$11.79 and its 200-day moving average price is C$12.68. The firm has a market capitalization of C$897.86 million, a price-to-earnings ratio of 6.17, a price-to-earnings-growth ratio of 0.82 and a beta of 2.23.

Martinrea International (TSE:MRE) last released its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing analysts’ consensus estimates of C$0.42 by C($0.05). Martinrea International had a return on equity of 10.13% and a net margin of 2.78%. The firm had revenue of C$1.30 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. As a group, equities analysts anticipate that Martinrea International will post 2.2317757 earnings per share for the current year.

Insider Buying and Selling

In other news, Senior Officer Alfred Di Tosto acquired 3,620 shares of Martinrea International stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of C$11.77 per share, for a total transaction of C$42,607.40. In related news, Director Frank Patrick D’eramo bought 22,200 shares of the company’s stock in a transaction on Friday, March 8th. The shares were bought at an average price of C$8.88 per share, with a total value of C$197,047.20. Also, Senior Officer Alfred Di Tosto bought 3,620 shares of the company’s stock in a transaction on Friday, March 15th. The shares were bought at an average cost of C$11.77 per share, for a total transaction of C$42,607.40. Insiders bought a total of 38,353 shares of company stock worth $348,645 in the last 90 days. 15.38% of the stock is owned by corporate insiders.

Martinrea International Company Profile

Martinrea International Inc engages in the design, development, and manufacturing of engineered, value-added lightweight structures and propulsion systems worldwide. It offers lightweight structure products, including knuckles/control arms/links; subframes integral/fabricated products; complex assemblies; body structures; exterior trims; and trailer hitches.