BMO Capital Markets Issues Positive Forecast for Martinrea International (TSE:MRE) Stock Price

Martinrea International (TSE:MRE) had its price objective boosted by investment analysts at BMO Capital Markets from C$9.00 to C$11.00 in a research report issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 7.42% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. TD Securities upped their price target on shares of Martinrea International from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Cibc World Mkts raised shares of Martinrea International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Finally, CIBC raised shares of Martinrea International from a “neutral” rating to an “outperform” rating and upped their target price for the stock from C$10.50 to C$13.00 in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$12.50.

Martinrea International Stock Down 1.8%

Shares of TSE:MRE traded down C$0.19 during trading on Wednesday, hitting C$10.24. 169,076 shares of the company’s stock traded hands, compared to its average volume of 159,651. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 80.32. The company has a 50-day moving average price of C$10.55 and a 200-day moving average price of C$9.25. Martinrea International has a 52 week low of C$6.12 and a 52 week high of C$11.62. The company has a market cap of C$745.35 million, a price-to-earnings ratio of -12.80, a price-to-earnings-growth ratio of 0.82 and a beta of 1.96.

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.