CIBC Boosts Martinrea International (TSE:MRE) Price Target to C$14.75

Martinrea International (TSE:MRE) had its target price upped by CIBC from C$14.50 to C$14.75 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on MRE. TD Securities decreased their price objective on shares of Martinrea International from C$18.00 to C$13.00 in a research report on Wednesday, November 13th. Raymond James cut their target price on Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, BMO Capital Markets lowered shares of Martinrea International from an “outperform” rating to a “market perform” rating and dropped their price target for the company from C$13.00 to C$11.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$13.45.

Martinrea International Trading Up 2.8 %

MRE opened at C$9.04 on Monday. The business has a fifty day moving average price of C$9.62 and a 200 day moving average price of C$10.68. The company has a debt-to-equity ratio of 83.13, a current ratio of 1.25 and a quick ratio of 0.68. The stock has a market capitalization of C$676.28 million, a price-to-earnings ratio of 4.99, a PEG ratio of 0.82 and a beta of 2.08. Martinrea International has a 12 month low of C$8.35 and a 12 month high of C$14.45.

Insider Activity

In related news, Director Robert Peter Edward Wildeboer bought 7,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of C$10.02 per share, for a total transaction of C$70,140.00. 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.