Martinrea International Downgraded to “Market Perform” at BMO Capital Markets (MRE)
Martinrea International (TSE:MRE) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, Stock Ratings Network.com reports.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity downgraded shares of Martinrea International (TSE:MRE) from a “buy” rating to a “hold” rating in a research note to investors on Monday. They now have a C$11.50 price target on the stock, down previously from C$14.75. Separately, 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. 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’s stock. The company presently has an average rating of “Buy” and an average price target of C$14.20.
Martinrea International (TSE:MRE) traded down 3.38% on Monday, hitting $10.59. 1,842,475 shares of the company’s stock traded hands. Martinrea International has a 52-week low of $6.41 and a 52-week high of $12.75. The stock’s 50-day moving average is $12.09 and its 200-day moving average is $10.10. The company has a market cap of $890.1 million and a P/E ratio of 18.58.
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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