Martinrea International (TSE:MRE) Cut to "Neutral" at CIBC

Martinrea International (TSE:MRE - Get Free Report) was downgraded by CIBC from an "outperform" rating to a "neutral" rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. They presently have a C$9.00 price objective on the stock, down from their previous price objective of C$14.00. CIBC's price target suggests a potential upside of 15.83% from the company's previous close.

MRE has been the topic of a number of other research reports. Raymond James dropped their target price on shares of Martinrea International from C$17.50 to C$14.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. TD Securities dropped their target price on shares of Martinrea International from C$18.00 to C$13.00 in a research report on Wednesday, November 13th. Finally, BMO Capital Markets lowered shares of Martinrea International from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from C$13.00 to C$11.00 in a research report on Monday, December 16th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of C$12.10.

Martinrea International Stock Performance

Shares of TSE:MRE traded down C$0.15 during trading on Wednesday, reaching C$7.77. The stock had a trading volume of 338,764 shares, compared to its average volume of 146,566. Martinrea International has a 52 week low of C$7.34 and a 52 week high of C$12.65. The firm has a market capitalization of C$577.57 million, a price-to-earnings ratio of 5.79, a P/E/G 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. The stock has a fifty day simple moving average of C$8.63 and a two-hundred day simple moving average of C$9.97.

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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.