Martinrea International (TSE:MRE) Price Target Cut to C$14.50

Martinrea International (TSE:MRE) had its target price reduced by analysts at Scotiabank from C$15.00 to C$14.50 in a research report issued to clients and investors on Friday, BayStreet.CA reports. Scotiabank’s price target would indicate a potential upside of 21.44% from the stock’s current price.

Several other research firms have also commented on MRE. TD Securities lowered Martinrea International from an “action list buy” rating to a “buy” rating and reduced their price target for the stock from C$21.00 to C$19.00 in a report on Friday, March 1st. CIBC reduced their price target on Martinrea International from C$20.00 to C$18.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Finally, Raymond James reduced their price target on Martinrea International from C$20.00 to C$18.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Martinrea International presently has a consensus rating of “Moderate Buy” and an average target price of C$18.14.

Martinrea International Price Performance

MRE stock traded up C$0.59 during midday trading on Friday, reaching C$11.94. The stock had a trading volume of 447,733 shares, compared to its average volume of 210,652. The company’s fifty day simple moving average is C$11.83 and its 200 day simple moving average is C$12.67. The company has a current ratio of 1.16, a quick ratio of 0.68 and a debt-to-equity ratio of 83.83. The company has a market cap of C$932.99 million, a price-to-earnings ratio of 6.20, a price-to-earnings-growth ratio of 0.82 and a beta of 2.29. Martinrea International has a 52-week low of C$10.75 and a 52-week high of C$15.16.

Martinrea International (TSE:MRE) last announced its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.42 by C($0.05). The firm had revenue of C$1.30 billion during the quarter, compared to analysts’ expectations of C$1.19 billion. Martinrea International had a net margin of 2.88% and a return on equity of 10.81%. As a group, sell-side analysts predict that Martinrea International will post 2.2301741 earnings per share for the current fiscal year.

Insider Buying and Selling at Martinrea International

In related news, Senior Officer Alfred Di Tosto acquired 3,620 shares of the stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of C$11.77 per share, with a total value of C$42,607.40. In related news, Director Frank Patrick D’eramo acquired 22,200 shares of the stock in a transaction dated Friday, March 8th. The stock was acquired at an average cost of C$8.88 per share, with a total value of C$197,047.20. Also, Senior Officer Alfred Di Tosto acquired 3,620 shares of the stock in a transaction dated Friday, March 15th. The shares were bought at an average cost of C$11.77 per share, with a total value of C$42,607.40. Insiders bought a total of 38,353 shares of company stock valued at $348,645 in the last three months. 15.10% of the stock is owned by corporate insiders.

Martinrea International Company Profile

Martinrea International Inc engages in the design, development, and manufacturing of engineered, value-added lightweight structures and propulsion systems worldwide. It offers lightweight structure products, including knuckles/control arms/links; subframes integral/fabricated products; complex assemblies; body structures; exterior trims; and trailer hitches.