Martinrea International (TSE:MRE) Reaches New 12-Month Low – Here’s What Happened

Martinrea International Inc. (TSE:MRE) hit a new 52-week low during trading on Wednesday . The company traded as low as C$8.68 and last traded at C$8.76, with a volume of 30620 shares trading hands. The stock had previously closed at C$8.87.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. CIBC lowered their price objective on shares of Martinrea International from C$17.00 to C$14.50 in a report on Thursday, November 14th. TD Securities cut their price target on shares of Martinrea International from C$18.00 to C$13.00 in a research report on Wednesday, November 13th. Finally, 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Martinrea International currently has an average rating of “Moderate Buy” and an average target price of C$14.20.

Martinrea International Price Performance

The firm has a market capitalization of C$649.35 million, a PE ratio of 4.80, a PEG ratio of 0.82 and a beta of 2.08. The company has a quick ratio of 0.68, a current ratio of 1.25 and a debt-to-equity ratio of 83.13. The firm’s fifty day simple moving average is C$9.85 and its 200-day simple moving average is C$10.80.

Insider Activity

In related news, Director Robert Peter Edward Wildeboer acquired 7,000 shares of Martinrea International stock in a transaction dated Friday, November 22nd. The stock was purchased at an average cost of C$10.02 per share, for a total transaction of C$70,140.00. Insiders own 11.31% of the company’s stock.

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.