Martinrea International (TSE:MRE) Sets New 12-Month Low After Analyst Downgrade

Martinrea International Inc. (TSE:MRE)’s stock price hit a new 52-week low during mid-day trading on Wednesday after TD Securities lowered their price target on the stock from C$18.00 to C$13.00. The company traded as low as C$9.52 and last traded at C$9.69, with a volume of 312819 shares trading hands. The stock had previously closed at C$10.82.

A number of other brokerages have also recently issued reports on MRE. BMO Capital Markets reduced their price objective on Martinrea International from C$17.00 to C$15.00 in a research note on Wednesday, August 7th. CIBC reduced their price objective on Martinrea International from C$17.50 to C$17.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$16.50.

Martinrea International Stock Down 10.8 %

The stock’s 50 day simple moving average is C$11.20 and its two-hundred day simple moving average is C$11.41. The firm has a market cap of C$721.92 million, a P/E ratio of 5.33, a P/E/G ratio of 0.82 and a beta of 2.08. The company has a debt-to-equity ratio of 83.13, a current ratio of 1.25 and a quick ratio of 0.68.

Martinrea International Company Profile

Martinrea International Inc engages in the design, development, and manufacturing of engineered, value-added lightweight structures and propulsion systems worldwide. It offers lightweight structure products, including knuckles/control arms/links; subframes integral/fabricated products; complex assemblies; body structures; exterior trims; and trailer hitches.