Martinrea International (TSE:MRE) Hits New 12-Month Low - Here's What Happened

Martinrea International Inc. (TSE:MRE - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as C$7.34 and last traded at C$7.35, with a volume of 71059 shares trading hands. The stock had previously closed at C$7.49.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. BMO Capital Markets cut Martinrea International from an "outperform" rating to a "market perform" rating and cut their target price for the company from C$13.00 to C$11.00 in a research note on Monday, December 16th. CIBC cut Martinrea International from an "outperform" rating to a "neutral" rating and cut their target price for the company from C$14.00 to C$9.00 in a research note on Wednesday, March 5th. Raymond James cut their target price on Martinrea International from C$17.50 to C$14.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. TD Securities cut their target price on Martinrea International from C$13.00 to C$12.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Finally, Cibc World Mkts cut Martinrea International from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of C$12.10.

Martinrea International Trading Down 0.4 %

The business has a 50 day moving average of C$8.48 and a two-hundred day moving average of C$9.86. 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 firm has a market cap of C$549.32 million, a P/E ratio of 5.51, a PEG ratio of 0.82 and a beta of 2.08.

Remove Ads

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.