Martinrea International (TSE:MRE) Upgraded to “Outperform” at CIBC

CIBC upgraded shares of Martinrea International (TSE:MRE) from a neutral rating to an outperform rating in a report published on Tuesday morning,BayStreet.CA reports. They currently have C$13.00 price objective on the stock, up from their prior price objective of C$10.50.

Several other brokerages also recently issued reports on MRE. Raymond James Financial cut their price target on Martinrea International from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. TD Securities upped their price target on shares of Martinrea International from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$12.50.

Martinrea International Price Performance

MRE opened at C$9.95 on Tuesday. 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’s 50-day moving average price is C$8.72 and its 200 day moving average price is C$8.06. Martinrea International has a fifty-two week low of C$6.12 and a fifty-two week high of C$11.91. The firm has a market cap of C$739.61 million, a price-to-earnings ratio of 7.41, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08.

Martinrea International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.0%. Martinrea International’s dividend payout ratio is currently 14.90%.

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.