Martinrea International (TSE:MRE) Cut to Market Perform at BMO Capital Markets

BMO Capital Markets downgraded shares of Martinrea International (TSE:MRE) from an outperform rating to a market perform rating in a report published on Monday morning, Marketbeat Ratings reports. The brokerage currently has C$11.00 target price on the stock, down from their prior target price of C$13.00.

Several other research analysts also recently weighed in on MRE. TD Securities decreased their price target on shares of Martinrea International from C$18.00 to C$13.00 in a research report on Wednesday, November 13th. CIBC decreased their target price on Martinrea International from C$17.00 to C$14.50 in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$14.20.

Martinrea International Trading Down 2.9 %

Martinrea International stock opened at C$8.84 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.25 and a debt-to-equity ratio of 83.13. The company has a market cap of C$661.32 million, a P/E ratio of 4.88, a P/E/G ratio of 0.82 and a beta of 2.08. The business has a 50-day simple moving average of C$10.55 and a two-hundred day simple moving average of C$11.11. Martinrea International has a 52-week low of C$8.81 and a 52-week high of C$14.59.

Insiders Place Their Bets

In related news, Director Robert Peter Edward Wildeboer bought 7,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of C$10.02 per share, with a total value of C$70,140.00. 11.31% of the stock is currently owned by company 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.