Martinrea International (TSE:MRE) Lowered to Neutral Rating by CIBC

Martinrea International (TSE:MRE) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$9.00 price target on the stock, down from their previous price target of C$14.00. CIBC’s price target would suggest a potential upside of 15.98% from the stock’s current price.

Several other analysts have also recently weighed in on MRE. TD Securities cut their price target on shares of Martinrea International from C$18.00 to C$13.00 in a report on Wednesday, November 13th. Raymond James decreased their target price on Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, BMO Capital Markets cut Martinrea International from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from C$13.00 to C$11.00 in a research note on Monday, December 16th.

Martinrea International Trading Down 1.9 %

Shares of TSE:MRE traded down C$0.15 during midday trading on Wednesday, hitting C$7.76. 256,935 shares of the stock traded hands, compared to its average volume of 138,904. 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 business’s 50 day moving average is C$8.70 and its two-hundred day moving average is C$10.03. The stock has a market capitalization of C$576.82 million, a PE ratio of 5.78, a P/E/G ratio of 0.82 and a beta of 2.08. Martinrea International has a one year low of C$7.61 and a one year high of C$12.65.

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.