Martinrea International (TSE:MRE) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Martinrea International shares crossed above their 200-day moving average, reaching C$11.03 before closing at C$10.89 on trading volume of 76,445 shares.
• Analyst sentiment is favorable: TD raised its price target to C$16.00 with a “buy” rating, while the broader analyst consensus is “Moderate Buy” with a C$13.62 target.
• The company reported quarterly EPS of C$0.61 on C$1.20 billion in revenue. Insider Hany Morsy also bought 4,400 shares, increasing his position by 95.65%.

Martinrea International Inc. (TSE:MRE - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$10.17 and traded as high as C$11.03. Martinrea International shares last traded at C$10.89, with a volume of 76,445 shares trading hands.

Wall Street Analyst Weigh In

Separately, TD lifted their target price on shares of Martinrea International from C$15.00 to C$16.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$13.62.

Martinrea International Stock Down 0.4%

The company has a market cap of C$767.34 million, a PE ratio of 6.37, a P/E/G ratio of 0.82 and a beta of 1.81. The firm has a 50-day simple moving average of C$10.29 and a two-hundred day simple moving average of C$10.17. The company has a debt-to-equity ratio of 71.37, a current ratio of 1.23 and a quick ratio of 0.68.

Martinrea International (TSE:MRE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported C$0.61 earnings per share (EPS) for the quarter. The business had revenue of C$1.20 billion for the quarter. Martinrea International had a return on equity of 7.89% and a net margin of 2.60%. Research analysts anticipate that Martinrea International Inc. will post 2.4988962 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Hany Morsy bought 4,400 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of C$10.56 per share, with a total value of C$46,464.00. Following the purchase, the insider owned 9,000 shares of the company's stock, valued at C$95,040. This trade represents a 95.65% increase in their position. Insiders own 11.31% of the company's stock.

About Martinrea International

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. The company also provides metal forming and welding solutions. The largest end market for Martinrea's products is in North America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source