Martinrea International (TSE:MRE) Stock Passes 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%.

Shares of Martinrea International Inc. (TSE:MRE - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Cibc World Mkts upgraded Martinrea International from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. CIBC upgraded Martinrea International from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from C$10.50 to C$13.00 in a research report on Tuesday, August 26th. Finally, TD Securities boosted their price objective on 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of C$12.50.

Martinrea International Stock Performance

The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 80.32. The company has a market cap of C$823.23 million, a P/E ratio of -14.14, a P/E/G ratio of 0.82 and a beta of 2.01. The business has a fifty day moving average of C$9.24 and a 200 day moving average of C$8.25.

Martinrea International Announces Dividend

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