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

Key Points

• Martinrea International's stock price surpassed its two hundred day moving average, reaching a high of C$10.20, and currently trades at C$9.99.
• Analysts have upgraded the company's ratings, with CIBC raising its price target from C$10.50 to C$13.00 and TD Securities increasing their target to C$14.00.
• The company recently announced a quarterly dividend of $0.05 per share, representing an annualized yield of 2.0% based on a payout ratio of -25.00%.

Martinrea International Inc. (TSE:MRE - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.75 and traded as high as C$10.20. Martinrea International shares last traded at C$9.99, with a volume of 97,982 shares.

Analysts Set New Price Targets

MRE has been the topic of several research analyst reports. CIBC raised Martinrea International from a "neutral" rating to an "outperform" rating and raised their price objective for the company from C$10.50 to C$13.00 in a report on Tuesday, August 26th. Cibc World Mkts raised Martinrea International from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Finally, TD Securities raised their price objective on Martinrea International from C$13.00 to C$14.00 and gave the company a "buy" rating in a 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$12.50.

Martinrea International Stock Performance

The stock has a market cap of C$727.15 million, a PE ratio of -12.49, a P/E/G ratio of 0.82 and a beta of 1.89. 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 stock has a 50-day moving average of C$10.29 and a 200 day moving average of C$8.75.

Martinrea International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were given a dividend of $0.05 per share. The ex-dividend date was Monday, September 29th. This represents a $0.20 dividend on an annualized basis and a yield of 2.0%. Martinrea International's dividend payout ratio (DPR) is presently -25.00%.

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.

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