Martinrea International (TSE:MRE) Stock Price Expected to Rise, CIBC Analyst Says

Martinrea International (TSE:MRE) had its target price hoisted by equities research analysts at CIBC from C$8.50 to C$8.75 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s target price indicates a potential upside of 13.05% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Cibc World Mkts downgraded shares of Martinrea International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. TD Securities dropped their price target on shares of Martinrea International from C$12.00 to C$10.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Finally, Raymond James reduced their price objective on Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$10.44.

Martinrea International Stock Up 5.2 %

MRE stock opened at C$7.74 on Friday. The company has a market cap of C$575.34 million, a price-to-earnings ratio of 5.77, a P/E/G ratio of 0.82 and a beta of 2.08. The company has a debt-to-equity ratio of 80.32, a quick ratio of 0.68 and a current ratio of 1.23. The business’s 50-day moving average is C$7.23 and its two-hundred day moving average is C$8.75. Martinrea International has a fifty-two week low of C$6.12 and a fifty-two week high of C$12.65.

Insider Activity at Martinrea International

In related news, Senior Officer Francesco Barbara bought 13,300 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average price of C$7.90 per share, for a total transaction of C$105,070.00. Also, Director Frank Patrick D’eramo bought 26,200 shares of Martinrea International stock in a transaction dated Monday, March 24th. The stock was purchased at an average cost of C$7.69 per share, for a total transaction of C$201,372.26. In the last quarter, insiders have bought 44,500 shares of company stock worth $343,408. 11.31% of the stock is 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.