Martinrea International (TSE:MRE) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Martinrea International shares rose above their 200-day moving average, trading at C$11.19, which indicates positive market momentum.
• Analysts have upgraded their ratings for Martinrea, with TD Securities raising their price target to C$14.00 and CIBC increasing theirs to C$13.00, reflecting strong growth expectations.
• The company announced a quarterly dividend of $0.05, resulting in an annualized yield of 1.8%, with a payout ratio currently at -25.00%.

Martinrea International Inc. (TSE:MRE - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$8.38 and traded as high as C$11.31. Martinrea International shares last traded at C$11.19, with a volume of 221,474 shares changing hands.

Analyst Ratings Changes

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

Martinrea International Stock Up 0.9%

The company has a market cap of C$807.95 million, a PE ratio of -13.88, a price-to-earnings-growth ratio of 0.82 and a beta of 2.01. The company has a fifty day moving average of C$9.60 and a two-hundred day moving average of C$8.41. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. Martinrea International's dividend payout ratio (DPR) is -25.00%.

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.