CIBC Cuts Martinrea International (TSE:MRE) Price Target to C$17.50

Martinrea International (TSE:MRE) had its price target dropped by investment analysts at CIBC from C$18.00 to C$17.50 in a report released on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s target price suggests a potential upside of 49.57% from the company’s previous close.

MRE has been the topic of a number of other reports. TD Securities lowered shares of Martinrea International from an “action list buy” rating to a “buy” rating and dropped their price objective for the company from C$21.00 to C$19.00 in a research note on Friday, March 1st. Scotiabank dropped their price objective on shares of Martinrea International from C$15.00 to C$14.50 in a research note on Friday. Finally, Raymond James dropped their price objective on shares of Martinrea International from C$20.00 to C$18.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$18.25.

Martinrea International Stock Performance

MRE traded down C$0.24 on Monday, reaching C$11.70. The company had a trading volume of 103,242 shares, compared to its average volume of 209,367. Martinrea International has a 1 year low of C$10.75 and a 1 year high of C$15.16. The stock has a market capitalization of C$897.86 million, a PE ratio of 6.17, a P/E/G ratio of 0.82 and a beta of 2.23. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 84.42. The stock has a 50-day moving average price of C$11.79 and a 200-day moving average price of C$12.68.

Martinrea International (TSE:MRE) last posted its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing analysts’ consensus estimates of C$0.42 by C($0.05). The business had revenue of C$1.30 billion during the quarter, compared to analyst estimates of C$1.19 billion. Martinrea International had a net margin of 2.78% and a return on equity of 10.13%. As a group, research analysts forecast that Martinrea International will post 2.2317757 EPS for the current fiscal year.

Insider Transactions at Martinrea International

In other news, Director Frank Patrick D’eramo purchased 22,200 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average cost of C$8.88 per share, for a total transaction of C$197,047.20. In related news, Director Frank Patrick D’eramo acquired 22,200 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average price of C$8.88 per share, with a total value of C$197,047.20. Also, Senior Officer Alfredo Alonso acquired 7,490 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average cost of C$8.70 per share, for a total transaction of C$65,163.00. Insiders have bought a total of 38,353 shares of company stock worth $348,645 over the last ninety days. 15.38% of the stock is currently owned by company insiders.

About Martinrea International

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.