Martinrea International (TSE:MRE) Reaches New 52-Week Low After Analyst Downgrade

Martinrea International Inc. (TSE:MRE)’s share price reached a new 52-week low on Wednesday after BMO Capital Markets lowered their price target on the stock from C$15.00 to C$13.00. The stock traded as low as C$9.52 and last traded at C$9.69, with a volume of 312819 shares changing hands. The stock had previously closed at C$10.82.

Several other research firms have also weighed in on MRE. CIBC dropped their price target on Martinrea International from C$17.00 to C$14.50 in a research report on Thursday. TD Securities dropped their target price on shares of Martinrea International from C$18.00 to C$13.00 in a report on Wednesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$15.75.

Martinrea International Trading Up 1.7 %

The company has a debt-to-equity ratio of 83.13, a quick ratio of 0.68 and a current ratio of 1.25. The firm has a market cap of C$733.89 million, a P/E ratio of 5.42, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08. The stock has a fifty day simple moving average of C$11.16 and a 200 day simple moving average of C$11.40.

About Martinrea International

Martinrea International Inc engages in the design, development, and manufacturing of engineered, value-added lightweight structures and propulsion systems worldwide. It offers lightweight structure products, including knuckles/control arms/links; subframes integral/fabricated products; complex assemblies; body structures; exterior trims; and trailer hitches.