Martinrea International (TSE:MRE) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Martinrea International Inc. (TSE:MRE)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$10.15 and traded as high as C$11.04. Martinrea International shares last traded at C$10.81, with a volume of 223,136 shares traded.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets raised their price objective on shares of Martinrea International from C$9.00 to C$11.00 in a research note on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$12.50.

Martinrea International Stock Up 5.2%

The company has a debt-to-equity ratio of 80.32, a current ratio of 1.23 and a quick ratio of 0.68. The stock has a market capitalization of C$786.84 million, a P/E ratio of -21.20, a PEG ratio of 0.82 and a beta of 1.58. The stock’s fifty day moving average is C$10.24 and its two-hundred day moving average is C$10.15.

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