Martinrea International Stock Rating Lowered by RBC Capital (MRE)
Martinrea International (TSE:MRE) was downgraded by research analysts at RBC Capital from an “outperform” rating to a “sector perform” rating in a report released on Monday, Stock Ratings Network reports. They currently have a C$15.00 price objective on the stock. RBC Capital’s target price would suggest a potential upside of 36.86% from the company’s current price.
Shares of Martinrea International (TSE:MRE) traded down 3.47% during mid-day trading on Monday, hitting $10.58. The stock had a trading volume of 1,843,278 shares. 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 $889.3 million and a P/E ratio of 18.58.
MRE has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity raised their price target on shares of Martinrea International (TSE:MRE) from C$14.25 to C$14.75 in a research note to investors on Friday, August 9th. 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 research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Martinrea International currently has an average rating of “Buy” and an average 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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