Martinrea International (TSE:MRE) Downgraded by CIBC to “Neutral”

Martinrea International (TSE:MRE) was downgraded by investment analysts at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$9.00 price objective on the stock, down from their previous price objective of C$14.00. CIBC’s price objective points to a potential upside of 15.98% from the stock’s previous close.

MRE has been the topic of several other reports. Raymond James dropped their target price 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. BMO Capital Markets downgraded Martinrea International from an “outperform” rating to a “market perform” rating and decreased their target price for the company from C$13.00 to C$11.00 in a research report on Monday, December 16th. Finally, TD Securities lowered their target price on Martinrea International from C$18.00 to C$13.00 in a report on Wednesday, November 13th.

Martinrea International Stock Down 1.9 %

Shares of MRE stock traded down C$0.15 during mid-day trading on Wednesday, hitting C$7.76. The stock had a trading volume of 256,935 shares, compared to its average volume of 138,904. Martinrea International has a 12-month low of C$7.61 and a 12-month high of C$12.65. The company has a debt-to-equity ratio of 80.32, a current ratio of 1.23 and a quick ratio of 0.68. The firm’s 50-day moving average is C$8.70 and its two-hundred day moving average is C$10.03. The firm has a market capitalization of C$576.82 million, a P/E ratio of 5.78, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08.

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.