Martinrea International (TSE:MRE) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• Martinrea International's stock surpassed its 200-day moving average of C$8.25, trading as high as C$11.33 and closing at C$11.31 with a volume of 358,113 shares.
• Several analysts have upgraded Martinrea International, with CIBC raising its price target from C$10.50 to C$13.00 and TD Securities increasing it from C$13.00 to C$14.00, reflecting a consensus rating of "Buy".
• The company declared a quarterly dividend of $0.05, set to be paid on October 15, which provides an annualized yield of 1.8%.

Martinrea International Inc. (TSE:MRE - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$8.25 and traded as high as C$11.33. Martinrea International shares last traded at C$11.31, with a volume of 358,113 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Cibc World Mkts upgraded Martinrea International from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. TD Securities upped their price target on shares of 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. Finally, CIBC upgraded Martinrea International from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from C$10.50 to C$13.00 in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$12.50.

Martinrea International Price Performance

The company has a debt-to-equity ratio of 80.32, a quick ratio of 0.68 and a current ratio of 1.23. The company has a market capitalization of C$832.69 million, a PE ratio of -14.30, a P/E/G ratio of 0.82 and a beta of 2.01. The company's 50-day simple moving average is C$9.41 and its 200-day simple moving average is C$8.32.

Martinrea International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.7%. Martinrea International's dividend payout ratio (DPR) is presently -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.