Martinrea International (TSE:MRE) Rating Lowered to Hold at Cibc World Mkts

Martinrea International (TSE:MRE - Get Free Report) was downgraded by stock analysts at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. BMO Capital Markets cut shares of Martinrea International from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from C$13.00 to C$11.00 in a report on Monday, December 16th. Raymond James decreased their price target 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. CIBC downgraded Martinrea International from an "outperform" rating to a "neutral" rating and cut their price objective for the company from C$14.00 to C$9.00 in a research note on Wednesday, March 5th. Finally, 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of C$12.10.

Martinrea International Stock Down 1.0 %

MRE stock traded down C$0.08 during trading hours on Wednesday, hitting C$7.57. The company's stock had a trading volume of 135,056 shares, compared to its average volume of 146,499. The stock has a 50 day moving average price of C$8.61 and a two-hundred day moving average price of C$9.95. Martinrea International has a 12 month low of C$7.34 and a 12 month high of C$12.65. The company has a market capitalization of C$562.70 million, a PE ratio of 5.64, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 80.32.

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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.