Martinrea International (TSE:MRE) Stock Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Martinrea International's stock price recently surpassed its 200-day moving average, trading at C$10.69 with a volume of 429,454 shares.
• Analysts have upgraded their ratings on the stock, with CIBC raising it to a strong-buy and increasing the price target to C$13.00, while TD Securities raised it to C$14.00.
• The company announced a quarterly dividend of $0.05 per share, equating to an annualized dividend yield of 1.9%, scheduled for payment on October 15th.

Martinrea International Inc. (TSE:MRE - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.14 and traded as high as C$10.73. Martinrea International shares last traded at C$10.69, with a volume of 429,454 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MRE shares. TD Securities increased their price objective on Martinrea International from C$13.00 to C$14.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Cibc World Mkts raised Martinrea International from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Finally, CIBC upgraded Martinrea International from a "neutral" rating to an "outperform" rating and lifted their target price for the company from C$10.50 to C$13.00 in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of C$12.50.

Martinrea International Stock Up 0.6%

The firm has a market cap of C$794.12 million, a PE ratio of -13.64, a PEG ratio of 0.82 and a beta of 2.01. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 80.32. The firm has a 50 day moving average price of C$9.05 and a 200-day moving average price of C$8.17.

Martinrea International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.8%. Martinrea International's dividend payout ratio is currently -25.00%.

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.