Martinrea International (TSE:MRE) Stock Rating Lowered by CIBC

Martinrea International (TSE:MRE) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$9.00 price objective on the stock, down from their prior price objective of C$14.00. CIBC’s price target would indicate a potential upside of 13.64% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. TD Securities lowered their target price on shares of Martinrea International from C$18.00 to C$13.00 in a report on Wednesday, November 13th. BMO Capital Markets cut shares of Martinrea International from an “outperform” rating to a “market perform” rating and lowered their target price for the company from C$13.00 to C$11.00 in a report on Monday, December 16th. Finally, Raymond James lowered their target price on shares of Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating on the stock in a report on Friday, January 10th.

Martinrea International Trading Down 0.4 %

TSE:MRE opened at C$7.92 on Wednesday. The firm’s 50 day moving average is C$8.68 and its 200 day moving average is C$10.01. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 80.32. Martinrea International has a 12 month low of C$7.61 and a 12 month high of C$12.65. The stock has a market capitalization of C$588.72 million, a PE ratio of 5.90, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08.

Martinrea International Company Profile

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.