TD Securities Forecasts Strong Price Appreciation for Martinrea International (TSE:MRE) Stock

Martinrea International (TSE:MRE) had its price objective raised by equities researchers at TD Securities from C$14.00 to C$15.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target indicates a potential upside of 55.60% from the company’s previous close.

Separately, BMO Capital Markets lifted their target price on Martinrea International from C$9.00 to C$11.00 in a report on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$12.63.

Martinrea International Price Performance

MRE opened at C$9.64 on Friday. The company has a fifty day moving average price of C$10.38 and a two-hundred day moving average price of C$10.37. The firm has a market capitalization of C$701.68 million, a PE ratio of -18.90, a P/E/G ratio of 0.82 and a beta of 1.84. Martinrea International has a 52 week low of C$6.12 and a 52 week high of C$11.62. The company has a debt-to-equity ratio of 74.05, a quick ratio of 0.68 and a current ratio of 1.19.

Martinrea International (TSE:MRE) last announced its quarterly earnings results on Thursday, March 5th. The company reported C$0.67 earnings per share for the quarter. The business had revenue of C$1.19 billion for the quarter. Martinrea International had a net margin of 2.22% and a return on equity of 7.13%. As a group, analysts anticipate that Martinrea International will post 2.4988962 earnings per share for the current year.

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. The company also provides metal forming and welding solutions. The largest end market for Martinrea’s products is in North America.