Martinrea International (TSE:MRE) Cut to Neutral at CIBC

CIBC lowered shares of Martinrea International (TSE:MRE) from an outperform rating to a neutral rating in a report released on Wednesday morning,BayStreet.CA reports. They currently have C$9.00 price objective on the stock, down from their previous price objective of C$14.00.

MRE has been the subject of a number of other reports. TD Securities decreased their target price on Martinrea International from C$18.00 to C$13.00 in a research report on Wednesday, November 13th. Raymond James decreased their price objective on Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, BMO Capital Markets downgraded shares of Martinrea International from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from C$13.00 to C$11.00 in a report on Monday, December 16th.

Martinrea International Stock Up 0.5 %

Martinrea International stock opened at C$7.95 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 80.32. The company has a market capitalization of C$590.95 million, a P/E ratio of 5.92, a P/E/G ratio of 0.82 and a beta of 2.08. The firm has a 50 day moving average price of C$8.70 and a 200-day moving average price of C$10.03. Martinrea International has a twelve month low of C$7.61 and a twelve month high of C$12.65.

Martinrea International Company Profile

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.