Martinrea International (TSE:MRE) Stock Price Expected to Rise, TD Securities Analyst Says

Martinrea International (TSE:MRE) had its price target hoisted by research analysts at TD Securities from C$10.00 to C$13.00 in a report issued on Sunday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 78.08% from the stock’s previous close.

A number of other brokerages also recently weighed in on MRE. Raymond James cut their target price on Martinrea International from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a research note on Friday. CIBC increased their price objective on Martinrea International from C$8.50 to C$8.75 and gave the stock a “neutral” rating in a report on Friday. Finally, Cibc World Mkts lowered shares of Martinrea International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$11.19.

Martinrea International Price Performance

MRE opened at C$7.30 on Friday. Martinrea International has a 1 year low of C$6.12 and a 1 year high of C$12.65. The company has a market capitalization of C$542.63 million, a price-to-earnings ratio of 5.44, a P/E/G ratio of 0.82 and a beta of 2.08. The firm’s fifty day moving average price is C$7.21 and its two-hundred day moving average price is C$8.74. 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 Transactions at Martinrea International

In related news, Senior Officer Peter Cirulis bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average cost of C$7.39 per share, for a total transaction of C$36,965.50. Also, Director Frank Patrick D’eramo bought 26,200 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of C$7.69 per share, for a total transaction of C$201,372.26. In the last three months, insiders bought 59,314 shares of company stock worth $453,802. 11.31% of the stock is currently owned by corporate insiders.

Martinrea International Company Profile

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.