CIBC Has Lowered Expectations for Martinrea International (TSE:MRE) Stock Price

Martinrea International (TSE:MRE) had its price objective cut by CIBC from C$17.00 to C$14.50 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 49.79% from the stock’s previous close.

Several other research analysts have also commented on MRE. BMO Capital Markets cut their price target on shares of Martinrea International from C$17.00 to C$15.00 in a report on Wednesday, August 7th. TD Securities decreased their price target on shares of Martinrea International from C$18.00 to C$13.00 in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.75.

Martinrea International Price Performance

MRE stock opened at C$9.68 on Thursday. The stock has a 50-day moving average price of C$11.13 and a two-hundred day moving average price of C$11.39. The company has a market cap of C$724.16 million, a PE ratio of 5.35, a price-to-earnings-growth 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 has a 12-month low of C$9.52 and a 12-month high of C$14.59.

About Martinrea International

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.