Martinrea International (TSE:MRE) Upgraded by Cibc World Mkts to "Strong-Buy" Rating

Key Points

• Cibc World Mkts has upgraded Martinrea International from a "hold" rating to a "strong-buy" rating.
• TD Securities raised their price target for Martinrea from C$13.00 to C$14.00, indicating a positive outlook.
• Martinrea International has an average price target of C$12.50 and a current market capitalization of C$739.61 million.

Martinrea International (TSE:MRE - Get Free Report) was upgraded by equities researchers at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts have also commented on the stock. TD Securities lifted their price target on shares of 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. Raymond James Financial lowered their target price on shares of Martinrea International from C$14.00 to C$12.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, CIBC upgraded Martinrea International from a "neutral" rating to an "outperform" rating and raised their price target for the stock from C$10.50 to C$13.00 in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Martinrea International currently has a consensus rating of "Buy" and an average price target of C$12.50.

Martinrea International Trading Up 2.8%

Shares of Martinrea International stock opened at C$9.95 on Tuesday. Martinrea International has a 1-year low of C$6.12 and a 1-year high of C$11.91. The stock has a market cap of C$739.61 million, a P/E ratio of 7.41, a P/E/G ratio of 0.82 and a beta of 2.08. The stock's 50 day simple moving average is C$8.72 and its 200-day simple moving average is C$8.06. The company has a debt-to-equity ratio of 80.32, a current ratio of 1.23 and a quick ratio of 0.68.

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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