Martinrea International (TSE:MRE) Downgraded to “Neutral” Rating by CIBC

CIBC cut shares of Martinrea International (TSE:MRE) from an outperform rating to a neutral rating in a research report released on Wednesday morning,BayStreet.CA reports. The firm currently has C$9.00 target price on the stock, down from their previous target price of C$14.00.

MRE has been the topic of a number of other reports. BMO Capital Markets cut Martinrea International from an “outperform” rating to a “market perform” rating and cut their target price for the stock from C$13.00 to C$11.00 in a report on Monday, December 16th. Raymond James dropped 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 note on Friday, January 10th. Finally, TD Securities reduced their price objective on shares of Martinrea International from C$18.00 to C$13.00 in a report on Wednesday, November 13th.

Martinrea International Stock Up 0.5 %

MRE stock opened at C$7.95 on Wednesday. The stock’s 50 day simple moving average is C$8.70 and its 200 day simple moving average is C$10.03. The company has a market cap of C$590.95 million, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08. The company has a debt-to-equity ratio of 80.32, a quick ratio of 0.68 and a current ratio of 1.23. Martinrea International has a fifty-two week low of C$7.61 and a fifty-two week high of C$12.65.

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.