Martinrea International Receives Sector Outperform Rating from CIBC (MRE)
Martinrea International (TSE:MRE)‘s stock had its “sector outperform” rating reiterated by stock analysts at CIBC in a report issued on Monday, American Banking News reports. They currently have a C$15.00 price objective on the stock. CIBC’s price target would indicate a potential upside of 41.91% from the company’s current price.
A number of other analysts have also recently weighed in on MRE. Analysts at BMO Capital Markets downgraded shares of Martinrea International (TSE:MRE) from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. Separately, 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. Finally, 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 equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Martinrea International presently has a consensus rating of “Buy” and a consensus price target of C$14.20.
Shares of Martinrea International (TSE:MRE) traded down 3.56% on Monday, hitting $10.57. The stock had a trading volume of 2,548,175 shares. Martinrea International has a 52 week low of $6.41 and a 52 week 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 $888.4 million and a price-to-earnings 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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