TD Securities Lowers Martinrea International (TSE:MRE) Price Target to C$12.00

Martinrea International (TSE:MRE) had its price target lowered by research analysts at TD Securities from C$13.00 to C$12.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective indicates a potential upside of 52.09% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. BMO Capital Markets downgraded Martinrea International from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from C$13.00 to C$11.00 in a research report on Monday, December 16th. Raymond James lowered their price target on Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Cibc World Mkts cut shares of Martinrea International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, CIBC lowered shares of 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 report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Martinrea International currently has an average rating of “Hold” and an average target price of C$12.10.

Martinrea International Price Performance

Shares of Martinrea International stock traded down C$0.03 during trading hours on Friday, reaching C$7.89. The company’s stock had a trading volume of 278,985 shares, compared to its average volume of 145,197. The firm has a 50 day moving average price of C$8.66 and a 200-day moving average price of C$9.99. 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 stock has a market cap of C$586.49 million, a P/E ratio of 5.88, a P/E/G ratio of 0.82 and a beta of 2.08. Martinrea International has a one year low of C$7.34 and a one 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.