BMO Capital Markets Cuts Martinrea International (TSE:MRE) Price Target to C$15.00

Martinrea International (TSE:MRE) had its price objective cut by BMO Capital Markets from C$17.00 to C$15.00 in a report issued on Wednesday, BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 45.35% from the stock’s previous close.

Several other analysts also recently weighed in on the company. CIBC reduced their target price on Martinrea International from C$18.00 to C$17.50 and set an “outperform” rating for the company in a report on Monday, May 6th. Scotiabank lowered their target price on shares of Martinrea International from C$15.00 to C$14.50 in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$17.79.

Martinrea International Stock Down 1.8 %

MRE stock traded down C$0.19 during midday trading on Wednesday, reaching C$10.32. 198,386 shares of the company were exchanged, compared to its average volume of 168,629. The stock’s 50-day simple moving average is C$11.57 and its 200 day simple moving average is C$12.14. Martinrea International has a 1-year low of C$10.05 and a 1-year high of C$14.99. The company has a debt-to-equity ratio of 84.42, a quick ratio of 0.68 and a current ratio of 1.23. The company has a market cap of C$791.96 million, a price-to-earnings ratio of 5.48, a price-to-earnings-growth ratio of 0.82 and a beta of 2.23.

Insider Transactions at Martinrea International

In other Martinrea International news, Director Robert Peter Edward Wildeboer acquired 10,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was purchased at an average price of C$12.00 per share, with a total value of C$120,000.00. In related news, Director Robert Peter Edward Wildeboer purchased 10,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were acquired at an average cost of C$12.00 per share, for a total transaction of C$120,000.00. Also, Senior Officer Peter Cirulis acquired 6,141 shares of Martinrea International stock in a transaction that occurred on Thursday, June 13th. The shares were bought at an average price of C$8.56 per share, with a total value of C$52,566.96. Over the last quarter, insiders purchased 22,365 shares of company stock valued at $236,269. 15.39% of the stock is currently owned by corporate insiders.

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.