Insider Buying: Martinrea International Inc. (TSE:MRE) Director Purchases C$201,372.26 in Stock

Martinrea International Inc. (TSE:MRE) Director Frank Patrick D’eramo bought 26,200 shares of the stock in a transaction dated Monday, March 24th. The stock was bought at an average price of C$7.69 per share, with a total value of C$201,372.26.

Martinrea International Trading Down 2.3 %

TSE MRE opened at C$7.70 on Thursday. The company has a market capitalization of C$572.36 million, a price-to-earnings ratio of 5.74, 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 current ratio of 1.23 and a quick ratio of 0.68. Martinrea International Inc. has a 12 month low of C$7.28 and a 12 month high of C$12.65. The company’s fifty day moving average price is C$8.29 and its two-hundred day moving average price is C$9.66.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MRE. BMO Capital Markets downgraded shares of Martinrea International from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from C$13.00 to C$11.00 in a research report on Monday, December 16th. Raymond James lowered their price target on shares of Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Cibc World Mkts cut shares of Martinrea International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. CIBC downgraded Martinrea International from an “outperform” rating to a “neutral” rating and lowered their target price for the company from C$14.00 to C$9.00 in a research note on Wednesday, March 5th. Finally, TD Securities cut their price target on Martinrea International from C$13.00 to C$12.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$12.10.

Martinrea International Company Profile

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.