Martinrea International (TSE:MRE) Stock Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Martinrea International stock has crossed above its 200-day moving average, trading at C$10.71 with a high of C$10.76 recently.
• Analysts have raised their ratings and target prices for Martinrea, with CIBC upgrading it to "outperform" and TD Securities setting a target of C$14.00.
• The company declared a quarterly dividend of $0.05 per share, which translates to an annual yield of 1.9%, payable on October 15th.

Martinrea International Inc. (TSE:MRE - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$8.53 and traded as high as C$10.76. Martinrea International shares last traded at C$10.71, with a volume of 187,038 shares traded.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. CIBC raised Martinrea International from a "neutral" rating to an "outperform" rating and increased their target price for the stock from C$10.50 to C$13.00 in a research report on Tuesday, August 26th. Cibc World Mkts raised Martinrea International from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Finally, TD Securities increased their target price on Martinrea International from C$13.00 to C$14.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. One research 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 company. Based on data from MarketBeat, Martinrea International currently has an average rating of "Buy" and a consensus target price of C$12.50.

Martinrea International Price Performance

The company has a market capitalization of C$779.56 million, a price-to-earnings ratio of -13.39, a price-to-earnings-growth ratio of 0.82 and a beta of 2.01. 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 has a fifty day moving average price of C$9.83 and a 200 day moving average price of C$8.53.

Martinrea International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, September 29th. 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.

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