Martinrea International (TSE:MRE) Cut to “Hold” at Cibc World Mkts

Cibc World Mkts downgraded shares of Martinrea International (TSE:MRE) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also recently weighed in on MRE. TD Securities dropped their price objective on shares of Martinrea International from C$18.00 to C$13.00 in a report on Wednesday, November 13th. Raymond James dropped their price target on shares of Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. BMO Capital Markets cut Martinrea International from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from C$13.00 to C$11.00 in a research note on Monday, December 16th. Finally, CIBC cut Martinrea International from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from C$14.00 to C$9.00 in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$12.10.

Martinrea International Stock Performance

TSE MRE opened at C$7.77 on Wednesday. The company has a debt-to-equity ratio of 80.32, a current ratio of 1.23 and a quick ratio of 0.68. The company has a market cap of C$577.57 million, a P/E ratio of 5.79, a P/E/G ratio of 0.82 and a beta of 2.08. The stock has a 50-day moving average of C$8.66 and a two-hundred day moving average of C$9.99. Martinrea International has a 1-year low of C$7.34 and a 1-year high of C$12.65.

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.