CIBC Has Lowered Expectations for Martinrea International (TSE:MRE) Stock Price

Martinrea International (TSE:MRE) had its target price reduced by equities research analysts at CIBC from C$14.75 to C$14.00 in a research note issued on Monday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 65.09% from the stock’s previous close.

Several other research analysts also recently issued reports on MRE. Raymond James lowered their price objective on shares of 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. TD Securities dropped their price target on Martinrea International from C$18.00 to C$13.00 in a research report on Wednesday, November 13th. Finally, BMO Capital Markets downgraded Martinrea International from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from C$13.00 to C$11.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$13.30.

Martinrea International Stock Down 0.4 %

Martinrea International stock opened at C$8.48 on Monday. The stock has a 50-day simple moving average of C$9.09 and a 200-day simple moving average of C$10.33. The company has a market capitalization of C$634.39 million, a P/E ratio of 4.69, a PEG ratio of 0.82 and a beta of 2.08. The company has a debt-to-equity ratio of 83.13, a quick ratio of 0.68 and a current ratio of 1.25. Martinrea International has a fifty-two week low of C$7.91 and a fifty-two week high of C$14.27.

Martinrea International (TSE:MRE) last announced its earnings results on Tuesday, November 12th. The company reported C$0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.47 by C($0.28). Martinrea International had a return on equity of 9.43% and a net margin of 2.65%. During the same quarter in the previous year, the business earned $0.68 EPS. Equities research analysts expect that Martinrea International will post 2.4988962 earnings per share for the current year.

Insider Buying and Selling

In other Martinrea International news, Director Robert Peter Edward Wildeboer bought 7,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were bought at an average price of C$10.02 per share, for a total transaction of C$70,140.00. 11.31% of the stock is currently owned by corporate insiders.

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.