Martinrea International (TSE:MRE) Price Target Raised to C$10.50

Key Points

• CIBC has raised the price target for Martinrea International from C$10.00 to C$10.50, indicating a potential upside of 9.38% from its previous close.
• TD Securities has upgraded Martinrea International to a "buy" rating with a new target price of C$14.00, while Raymond James has decreased its target to C$12.00 with an "outperform" rating.
• Martinrea International's stock has shown an uptick, trading at C$9.60, well above its 52-week low of C$6.12 and approaching its high of C$11.91.

Martinrea International (TSE:MRE - Get Free Report) had its price target raised by CIBC from C$10.00 to C$10.50 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a "neutral" rating on the stock. CIBC's price target suggests a potential upside of 9.38% from the stock's previous close.

MRE has been the topic of a number of other reports. TD Securities raised their target price on Martinrea International from C$13.00 to C$14.00 and gave the stock a "buy" rating in a report on Wednesday. Raymond James Financial cut their price target on Martinrea International from C$14.00 to C$12.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of C$11.88.

Martinrea International Stock Performance

Martinrea International stock traded up C$1.02 during trading on Wednesday, reaching C$9.60. The company had a trading volume of 602,886 shares, compared to its average volume of 142,551. Martinrea International has a 52 week low of C$6.12 and a 52 week high of C$11.91. The firm's 50-day simple moving average is C$8.50 and its 200 day simple moving average is C$8.01. The firm has a market capitalization of C$713.59 million, a price-to-earnings ratio of 7.15, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 80.32.

Insider Transactions at Martinrea International

In other news, Senior Officer Peter Cirulis acquired 4,568 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was purchased at an average price of C$7.99 per share, for a total transaction of C$36,485.07. Insiders own 11.31% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.