Martinrea International (TSE:MRE) Downgraded to “Hold” Rating by Cibc World Mkts

Martinrea International (TSE:MRE) was downgraded by equities research analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on MRE. CIBC cut Martinrea International from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from C$14.00 to C$9.00 in a research report on Wednesday. Raymond James decreased their target price 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. TD Securities decreased their target price on shares of Martinrea International from C$18.00 to C$13.00 in a research note on Wednesday, November 13th. Finally, BMO Capital Markets lowered shares of Martinrea International from an “outperform” rating to a “market perform” rating and decreased their target price for the company from C$13.00 to C$11.00 in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Martinrea International presently has a consensus rating of “Hold” and an average price target of C$12.30.

Martinrea International Stock Performance

MRE stock opened at C$7.92 on Wednesday. The stock has a market capitalization of C$588.72 million, a PE ratio of 5.90, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08. Martinrea International has a 12-month low of C$7.61 and a 12-month high of C$12.65. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 80.32. The stock’s 50 day simple moving average is C$8.68 and its 200 day simple moving average is C$10.01.

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.