Martinrea International (TSE:MRE) Given New C$16.00 Price Target at CIBC

Martinrea International (TSE:MRE) had its target price reduced by investment analysts at CIBC from C$17.00 to C$16.00 in a report issued on Wednesday, BayStreet.CA reports. CIBC’s price target suggests a potential upside of 44.01% from the company’s current price.

Several other brokerages also recently commented on MRE. TD Securities reduced their target price on shares of Martinrea International from C$17.00 to C$15.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. BMO Capital Markets reduced their target price on shares of Martinrea International from C$14.00 to C$11.00 in a report on Wednesday, August 7th.

Shares of MRE stock traded down C$0.38 during midday trading on Wednesday, hitting C$11.11. 364,505 shares of the company were exchanged, compared to its average volume of 207,036. The firm has a market capitalization of $951.21 million and a P/E ratio of 6.02. The company has a debt-to-equity ratio of 85.35, a quick ratio of 0.85 and a current ratio of 1.42. The firm’s 50 day moving average price is C$10.80 and its two-hundred day moving average price is C$10.70. Martinrea International has a 52 week low of C$9.33 and a 52 week high of C$14.24.

In other Martinrea International news, Senior Officer Ganesh Koduvayur Venkatasubramanian Kesavan Iyer acquired 2,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was purchased at an average price of C$11.51 per share, with a total value of C$25,322.88. Following the acquisition, the insider now directly owns 12,850 shares of the company’s stock, valued at approximately C$147,908.64.

Martinrea International Company Profile

Martinrea International Inc designs, engineers, manufactures, and sells metal parts, assemblies and modules, fluid management systems, and aluminum products primarily to the automotive industry in North America, Europe, and internationally. The company offers aluminum products, including engine blocks, oil pans, cam carriers, camshaft and transmission housings, sub frames, knuckles, control arms, longitudinal and cross members, shock towers, components for electric vehicles, fabrication and modules, and aluminum plates and coils.

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