Martinrea International (TSE:MRE) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Martinrea International Inc. (TSE:MRE)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.15 and traded as high as C$11.04. Martinrea International shares last traded at C$10.81, with a volume of 223,136 shares changing hands.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets lifted their target price on Martinrea International from C$9.00 to C$11.00 in a research note on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Martinrea International presently has an average rating of “Buy” and an average price target of C$12.50.

Martinrea International Trading Up 5.2%

The firm has a 50-day moving average of C$10.24 and a 200 day moving average of C$10.15. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 80.32. The stock has a market capitalization of C$786.84 million, a price-to-earnings ratio of -21.20, a PEG ratio of 0.82 and a beta of 1.58.

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