Martinrea International (TSE:MRE) Price Target Raised to C$14.00 at TD Securities

Key Points

• TD Securities has raised the price target for Martinrea International from C$13.00 to C$14.00, indicating a potential upside of 45.83% from the stock's previous close.
• The stock's average rating is currently "Hold" with an average target price of C$11.88, while CIBC and Raymond James Financial have set different target prices of C$8.75 and C$12.00, respectively.
• Martinrea's shares are trading at C$9.60 with a market capitalization of C$713.59 million, and notable insider buying has occurred, with Senior Officer Peter Cirulis acquiring 4,568 shares at an average price of C$7.99.

Martinrea International (TSE:MRE - Get Free Report) had its price target increased by analysts at TD Securities from C$13.00 to C$14.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD Securities' price target suggests a potential upside of 45.83% from the company's previous close.

Several other equities analysts have also recently issued reports on the company. CIBC raised their price target on Martinrea International from C$8.50 to C$8.75 and gave the company a "neutral" rating in a report on Friday, May 2nd. Raymond James Financial decreased their price target on Martinrea International from C$14.00 to C$12.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of C$11.88.

Martinrea International Price Performance

Shares of TSE:MRE traded up C$1.02 during midday trading on Wednesday, reaching C$9.60. The company's stock had a trading volume of 602,886 shares, compared to its average volume of 142,551. Martinrea International has a fifty-two week low of C$6.12 and a fifty-two week high of C$11.91. The company has a market capitalization of C$713.59 million, a P/E ratio of 7.15, a P/E/G 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. The business's fifty day simple moving average is C$8.50 and its 200-day simple moving average is C$8.01.

Insider Buying and Selling at Martinrea International

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

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.

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