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

Cibc World Mkts cut shares of Martinrea International (TSE:MRE) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. CIBC downgraded shares of Martinrea International from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from C$14.00 to C$9.00 in a report on Wednesday. Raymond James reduced their price objective on shares of Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating for the company in a report on Friday, January 10th. TD Securities dropped their price target on shares of Martinrea International from C$18.00 to C$13.00 in a research report on Wednesday, November 13th. Finally, BMO Capital Markets cut shares of Martinrea International from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from C$13.00 to C$11.00 in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of C$12.30.

Martinrea International Stock Performance

MRE stock opened at C$7.92 on Wednesday. The company has a market capitalization of C$588.72 million, a P/E ratio of 5.90, a PEG ratio of 0.82 and a beta of 2.08. The company has a 50-day simple moving average of C$8.68 and a 200 day simple moving average of C$10.01. Martinrea International has a fifty-two week low of C$7.61 and a fifty-two week high of C$12.65. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 80.32.

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.