Raymond James Issues Pessimistic Forecast for Martinrea International (TSE:MRE) Stock Price

Martinrea International (TSE:MRE) had its price target trimmed by Raymond James from C$17.50 to C$14.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently commented on the stock. TD Securities dropped their target price on shares of Martinrea International from C$18.00 to C$13.00 in a research note on Wednesday, November 13th. BMO Capital Markets downgraded shares of Martinrea International from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from C$13.00 to C$11.00 in a research note on Monday, December 16th. Finally, CIBC dropped their target price on shares of Martinrea International from C$17.00 to C$14.50 in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Martinrea International has an average rating of “Moderate Buy” and a consensus target price of C$13.40.

Martinrea International Stock Performance

Shares of TSE:MRE opened at C$8.39 on Friday. The company has a market capitalization of C$627.66 million, a price-to-earnings ratio of 4.64, a PEG ratio of 0.82 and a beta of 2.08. Martinrea International has a 12 month low of C$8.35 and a 12 month high of C$14.45. The firm’s 50-day moving average is C$9.77 and its 200 day moving average is C$10.76. The company has a current ratio of 1.25, a quick ratio of 0.68 and a debt-to-equity ratio of 83.13.

Insider Transactions at Martinrea International

In other Martinrea International news, Director Robert Peter Edward Wildeboer purchased 7,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was purchased at an average price of C$10.02 per share, with a total value of C$70,140.00. Corporate 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.