Martinrea International (TSE:MRE) Price Target Cut to C$14.50

Martinrea International (TSE:MRE) had its price target dropped by Scotiabank from C$15.00 to C$14.50 in a research note issued to investors on Friday, BayStreet.CA reports. Scotiabank’s price objective indicates a potential upside of 21.44% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Raymond James cut their price objective on shares of Martinrea International from C$20.00 to C$18.00 and set an “outperform” rating for the company in a report on Friday, March 1st. CIBC cut their target price on shares of Martinrea International from C$20.00 to C$18.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Finally, TD Securities lowered shares of Martinrea International from an “action list buy” rating to a “buy” rating and cut their target price for the company from C$21.00 to C$19.00 in a report on Friday, March 1st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Martinrea International currently has an average rating of “Moderate Buy” and a consensus target price of C$18.14.

Martinrea International Price Performance

TSE MRE opened at C$11.94 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.68 and a debt-to-equity ratio of 83.83. Martinrea International has a 12 month low of C$10.75 and a 12 month high of C$15.16. The company’s 50 day moving average is C$11.79 and its two-hundred day moving average is C$12.68. The stock has a market cap of C$932.99 million, a price-to-earnings ratio of 6.19, a PEG ratio of 0.82 and a beta of 2.29.

Martinrea International (TSE:MRE) last announced its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.42 by C($0.05). Martinrea International had a net margin of 2.88% and a return on equity of 10.81%. The company had revenue of C$1.30 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. As a group, research analysts anticipate that Martinrea International will post 2.2301741 earnings per share for the current year.

Insider Buying and Selling

In related news, Senior Officer Alfred Di Tosto purchased 3,620 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average cost of C$11.77 per share, for a total transaction of C$42,607.40. In other Martinrea International news, Senior Officer Alfredo Alonso bought 7,490 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was acquired at an average cost of C$8.70 per share, for a total transaction of C$65,163.00. Also, Senior Officer Alfred Di Tosto bought 3,620 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of C$11.77 per share, with a total value of C$42,607.40. Insiders purchased a total of 38,353 shares of company stock worth $348,645 over the last three months. 15.10% of the stock is owned by insiders.

Martinrea International Company Profile

Martinrea International Inc engages in the design, development, and manufacturing of engineered, value-added lightweight structures and propulsion systems worldwide. It offers lightweight structure products, including knuckles/control arms/links; subframes integral/fabricated products; complex assemblies; body structures; exterior trims; and trailer hitches.