Martinrea International (TSE:MRE) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Martinrea International shares moved above their 200-day moving average, reaching C$10.29 before closing at C$10.23. The stock’s market capitalization is approximately C$715.8 million.
• TD raised its price target from C$15.00 to C$16.00 and maintained a “Buy” rating. Analysts’ consensus is “Moderate Buy,” with an average target price of C$13.83.
• The company reported quarterly earnings of C$0.61 per share on C$1.20 billion in revenue, while insider Hany Morsy increased his holdings by purchasing 4,400 shares at an average price of C$10.56.

Martinrea International Inc. (TSE:MRE - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$10.21 and traded as high as C$10.29. Martinrea International shares last traded at C$10.23, with a volume of 102,643 shares traded.

Analyst Upgrades and Downgrades

Separately, TD raised their target price on Martinrea International from C$15.00 to C$16.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Martinrea International presently has a consensus rating of "Moderate Buy" and a consensus target price of C$13.83.

Martinrea International Stock Up 2.1%

The firm's 50 day simple moving average is C$10.30 and its 200 day simple moving average is C$10.21. The company has a market cap of C$715.84 million, a price-to-earnings ratio of 5.98, a price-to-earnings-growth ratio of 0.82 and a beta of 1.81. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 71.37.

Martinrea International (TSE:MRE - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported C$0.61 earnings per share for the quarter. The company 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%. Sell-side analysts anticipate that Martinrea International Inc. will post 2.4988962 EPS for the current fiscal year.

Insiders Place Their Bets

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

About Martinrea International

Martinrea International Inc is a leader in the development and production of quality metal parts, assemblies and modules, fluid management systems, and complex aluminum products focused primarily on the automotive sector. Martinrea currently operates in 56 locations in Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain, China, South Africa, and Japan. Martinrea's vision is making lives better by being the best supplier we can be in the products we make and the services we provide.

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