Martinrea International (TSE:MRE) Share Price Passes Above 200-Day Moving Average – What’s Next?

Martinrea International Inc. (TSE:MRE)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.99 and traded as high as C$10.49. Martinrea International shares last traded at C$10.38, with a volume of 62,642 shares.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets boosted their price objective on shares of Martinrea International from C$9.00 to C$11.00 in a research report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$12.50.

Martinrea International Trading Down 1.0%

The firm’s fifty day moving average price is C$10.30 and its 200-day moving average price is C$9.99. The company has a market cap of C$755.54 million, a price-to-earnings ratio of -20.35, a P/E/G ratio of 0.82 and a beta of 1.74. The company has a debt-to-equity ratio of 80.32, a current ratio of 1.23 and a quick ratio of 0.68.

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. The company also provides metal forming and welding solutions. The largest end market for Martinrea’s products is in North America.