Raymond James Issues Pessimistic Forecast for Martinrea International (TSE:MRE) Stock Price

Martinrea International (TSE:MRE) had its price target cut by equities researchers at Raymond James from C$17.50 to C$14.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target indicates a potential upside of 66.87% from the company’s previous close.

A number of other research analysts also recently commented on the stock. TD Securities dropped their target price on shares of Martinrea International from C$18.00 to C$13.00 in a research report on Wednesday, November 13th. BMO Capital Markets cut Martinrea International from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from C$13.00 to C$11.00 in a research note on Monday, December 16th. Finally, CIBC decreased their price objective on Martinrea International from C$17.00 to C$14.50 in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$13.40.

Martinrea International Stock Down 3.2 %

TSE MRE traded down C$0.28 during trading on Friday, reaching C$8.39. 138,076 shares of the company’s stock were exchanged, compared to its average volume of 179,816. Martinrea International has a 1 year low of C$8.38 and a 1 year high of C$14.45. The stock has a market cap of C$627.66 million, a P/E ratio of 4.64, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08. The company has a debt-to-equity ratio of 83.13, a quick ratio of 0.68 and a current ratio of 1.25. The company has a 50 day moving average price of C$9.77 and a two-hundred day moving average price of C$10.76.

Insiders Place Their Bets

In other news, Director Robert Peter Edward Wildeboer purchased 7,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was acquired at an average price of C$10.02 per share, with a total value of C$70,140.00. 11.31% of the stock is currently owned by 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.