Martinrea International (TSE:MRE) Sets New 12-Month Low – Here’s Why

Martinrea International Inc. (TSE:MRE)’s share price reached a new 52-week low 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 Analyst Weigh In

MRE has been the subject of a number of recent research reports. Raymond James reduced their price objective on shares of 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 shares of Martinrea International from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from C$14.00 to C$9.00 in a research note on Wednesday, March 5th. BMO Capital Markets downgraded shares of Martinrea International from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from C$13.00 to C$11.00 in a research note on Monday, December 16th. Cibc World Mkts downgraded shares of Martinrea International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, TD Securities reduced their price objective on shares of Martinrea International from C$13.00 to C$12.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Martinrea International currently has a consensus rating of “Hold” and an average target price of C$12.10.

Martinrea International Stock Up 1.2 %

The company’s fifty day simple moving average is C$8.51 and its 200-day simple moving average is C$9.89. The company has a debt-to-equity ratio of 80.32, a current ratio of 1.23 and a quick ratio of 0.68. The firm has a market capitalization of C$551.55 million, a PE ratio of 5.53, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08.

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.