Martinrea International (TSE:MRE) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Martinrea International Inc. (TSE:MRE - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$8.25 and traded as high as C$8.84. Martinrea International shares last traded at C$8.33, with a volume of 140,882 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MRE shares. CIBC boosted their target price on Martinrea International from C$8.50 to C$8.75 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Cibc World Mkts cut shares of Martinrea International from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. TD Securities increased their target price on Martinrea International from C$10.00 to C$13.00 and gave the stock a "buy" rating in a research note on Sunday, May 4th. Finally, Raymond James cut their price target on shares of Martinrea International from C$14.00 to C$12.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of C$11.19.

Martinrea International Trading Down 5.3%

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 firm has a market cap of C$619.19 million, a price-to-earnings ratio of 6.21, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08. The business's 50-day moving average price is C$7.65 and its two-hundred day moving average price is C$8.25.

Insider Buying and Selling at Martinrea International

In other Martinrea International news, Senior Officer Peter Cirulis acquired 5,000 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of C$7.39 per share, for a total transaction of C$36,965.50. Also, Senior Officer Francesco Barbara purchased 13,300 shares of Martinrea International stock in a transaction on Wednesday, March 26th. The stock was purchased at an average price of C$7.90 per share, for a total transaction of C$105,070.00. Over the last 90 days, insiders have bought 63,882 shares of company stock worth $490,287. 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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