CIBC Lowers Martinrea International (TSE:MRE) Price Target to C$14.00

Martinrea International (TSE:MRE) had its target price reduced by CIBC from C$14.75 to C$14.00 in a report published on Monday morning,BayStreet.CA reports.

A number of other brokerages have also commented on MRE. BMO Capital Markets lowered Martinrea International from an “outperform” rating to a “market perform” rating and cut their price target for the company from C$13.00 to C$11.00 in a research note on Monday, December 16th. Raymond James cut their price objective 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. Finally, TD Securities cut their price objective on Martinrea International from C$18.00 to C$13.00 in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Martinrea International presently has a consensus rating of “Moderate Buy” and a consensus price target of C$13.30.

Martinrea International Stock Performance

Shares of MRE stock opened at C$8.42 on Monday. The business’s 50-day moving average price is C$9.05 and its 200-day moving average price is C$10.30. Martinrea International has a 12 month low of C$7.91 and a 12 month high of C$14.27. The firm has a market capitalization of C$629.90 million, a price-to-earnings ratio of 4.65, a PEG ratio of 0.82 and a beta of 2.08. The company has a current ratio of 1.25, a quick ratio of 0.68 and a debt-to-equity ratio of 83.13.

Martinrea International (TSE:MRE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported C$0.19 EPS for the quarter, missing analysts’ consensus estimates of C$0.47 by C($0.28). Martinrea International had a net margin of 2.65% and a return on equity of 9.43%. During the same period last year, the business earned $0.68 EPS. Equities research analysts forecast that Martinrea International will post 2.4988962 EPS for the current year.

Insiders Place Their Bets

In other Martinrea International news, Director Robert Peter Edward Wildeboer bought 7,000 shares of the stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of C$10.02 per share, for a total transaction of C$70,140.00. 11.31% of the stock is currently owned by corporate insiders.

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.