Martinrea International Downgraded to Hold at Canaccord Genuity (MRE)
Martinrea International (TSE:MRE) was downgraded by research analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a report released on Monday, StockRatingsNetwork.com reports. They currently have a C$11.50 price objective on the stock, down from their previous price objective of C$14.75. Canaccord Genuity’s price target indicates a potential upside of 4.93% from the company’s current price.
Shares of Martinrea International (TSE:MRE) traded down 3.47% on Monday, hitting $10.58. The stock had a trading volume of 1,843,278 shares. Martinrea International has a 1-year low of $6.41 and a 1-year high of $12.75. The stock has a 50-day moving average of $12.09 and a 200-day moving average of $10.10. The company has a market cap of $889.3 million and a price-to-earnings ratio of 18.58.
A number of other analysts have also recently weighed in on MRE. Analysts at RBC Capital downgraded shares of Martinrea International (TSE:MRE) from an “outperform” rating to a “sector perform” rating in a research note to investors on Monday. They now have a C$15.00 price target on the stock. Separately, analysts at BMO Capital Markets upgraded shares of Martinrea International (TSE:MRE) from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, July 19th. Finally, analysts at Paradigm Capital raised their price target on shares of Martinrea International (TSE:MRE) from C$15.00 to C$18.00 in a research note to investors on Friday, July 12th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Martinrea International presently has an average rating of “Buy” and a consensus price target of C$14.20.
Martinrea International Inc (TSE:MRE) is an automotive supplier, engaged in the design, development and manufacturing of metal parts, assemblies and modules and fluid management systems focused primarily on the automotive sector.
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