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

Martinrea International (TSE:MRE) had its target price cut by investment analysts at CIBC from C$17.00 to C$14.50 in a research note issued to investors on Thursday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 46.02% from the company’s current price.

Several other equities research analysts have also weighed in on MRE. BMO Capital Markets cut their target price on Martinrea International from C$17.00 to C$15.00 in a research report on Wednesday, August 7th. TD Securities lowered their target price on shares of Martinrea International from C$18.00 to C$13.00 in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Martinrea International currently has a consensus rating of “Moderate Buy” and an average target price of C$15.75.

Martinrea International Stock Up 2.9 %

Shares of MRE traded up C$0.28 during midday trading on Thursday, reaching C$9.93. The stock had a trading volume of 196,861 shares, compared to its average volume of 153,991. The company has a market cap of C$742.86 million, a price-to-earnings ratio of 5.50, a PEG ratio of 0.82 and a beta of 2.08. The company’s fifty day simple moving average is C$11.20 and its two-hundred day simple moving average is C$11.41. Martinrea International has a 1-year low of C$9.52 and a 1-year high of C$14.59. The company has a debt-to-equity ratio of 83.13, a current ratio of 1.25 and a quick ratio of 0.68.

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.