TD Issues Positive Forecast for Martinrea International (TSE:MRE) Stock Price

Martinrea International (TSE:MRE) had its target price hoisted by stock analysts at TD from C$15.00 to C$16.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s target price points to a potential upside of 42.10% from the stock’s current price.

Martinrea International Stock Performance

MRE traded up C$1.00 during trading hours on Wednesday, hitting C$11.26. 172,993 shares of the stock were exchanged, compared to its average volume of 84,644. The stock has a market cap of C$798.27 million, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 0.82 and a beta of 1.83. Martinrea International has a 12 month low of C$8.28 and a 12 month high of C$11.72. The stock has a 50-day simple moving average of C$10.39 and a 200-day simple moving average of C$10.14. The company has a debt-to-equity ratio of 77.11, a current ratio of 1.27 and a quick ratio of 0.68.

Martinrea International (TSE:MRE) last posted its quarterly earnings results on Tuesday, August 4th. The company reported C$0.61 EPS for the quarter. The business had revenue of C$1.20 billion during the quarter. Martinrea International had a net margin of 2.46% and a return on equity of 7.74%. Analysts anticipate that Martinrea International will post 2.4988962 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Hany Morsy bought 4,400 shares of the company’s stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of C$10.56 per share, with a total value of C$46,464.00. Following the completion of the transaction, the insider directly owned 9,000 shares of the company’s stock, valued at approximately C$95,040. This represents a 95.65% increase in their ownership of the stock. 11.31% of the stock is currently owned by insiders.

Martinrea International Company Profile

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. The company also provides metal forming and welding solutions. The largest end market for Martinrea’s products is in North America.