CIBC Boosts Martinrea International (TSE:MRE) Price Target to C$8.75

Martinrea International (TSE:MRE) had its target price hoisted by research analysts at CIBC from C$8.50 to C$8.75 in a report issued on Friday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s target price points to a potential upside of 13.05% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Cibc World Mkts downgraded Martinrea International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Raymond James dropped their target price on Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, TD Securities decreased their price target on Martinrea International from C$12.00 to C$10.00 and set a “buy” rating for the company in a report on Monday, April 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$10.44.

Martinrea International Stock Up 5.2 %

MRE stock opened at C$7.74 on Friday. The company has a market capitalization of C$575.34 million, a P/E ratio of 5.77, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08. Martinrea International has a 12 month low of C$6.12 and a 12 month high of C$12.65. The firm’s fifty day simple moving average is C$7.23 and its 200-day simple moving average is C$8.75. The company has a debt-to-equity ratio of 80.32, a current ratio of 1.23 and a quick ratio of 0.68.

Insider Activity

In other Martinrea International news, Senior Officer Francesco Barbara acquired 13,300 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was acquired at an average cost of C$7.90 per share, for a total transaction of C$105,070.00. Also, Director Frank Patrick D’eramo bought 26,200 shares of Martinrea International stock in a transaction dated Monday, March 24th. The shares were acquired at an average cost of C$7.69 per share, with a total value of C$201,372.26. Insiders have acquired 44,500 shares of company stock worth $343,408 in the last ninety days. Company insiders own 11.31% of the company’s stock.

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.