Martinrea International (TSE:MRE) Sets New 52-Week Low – Here’s Why

Martinrea International Inc. (TSE:MRE) reached a new 52-week low during mid-day trading on Friday . The company traded as low as C$6.76 and last traded at C$6.87, with a volume of 30454 shares. The stock had previously closed at C$7.11.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Raymond James dropped their price objective 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. Cibc World Mkts lowered Martinrea International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. CIBC lowered Martinrea International from an “outperform” rating to a “neutral” rating and dropped their target price for the company from C$14.00 to C$9.00 in a research report on Wednesday, March 5th. BMO Capital Markets lowered shares of Martinrea International from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from C$13.00 to C$11.00 in a research report on Monday, December 16th. Finally, TD Securities dropped their price objective on shares of Martinrea International from C$13.00 to C$12.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$12.10.

Martinrea International Trading Down 2.1 %

The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 80.32. The company’s 50-day moving average is C$8.06 and its 200 day moving average is C$9.50. The company has a market cap of C$517.36 million, a price-to-earnings ratio of 5.19, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08.

Insider Transactions at Martinrea International

In other news, Senior Officer Peter Cirulis acquired 5,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average cost of C$7.39 per share, for a total transaction of C$36,965.50. Also, Senior Officer Francesco Barbara bought 13,300 shares of Martinrea International stock in a transaction on Wednesday, March 26th. The shares were purchased at an average cost of C$7.90 per share, with a total value of C$105,070.00. Insiders acquired a total of 44,500 shares of company stock valued at $343,408 in the last three months. 11.31% of the stock is currently owned by company insiders.

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.