Martinrea International (TSE:MRE) Hits New 12-Month Low – Here’s Why

Shares of Martinrea International Inc. (TSE:MRE) hit a new 52-week low on Monday . The stock traded as low as C$9.20 and last traded at C$9.43, with a volume of 56365 shares trading hands. The stock had previously closed at C$9.72.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. TD Securities cut their price target on shares of Martinrea International from C$18.00 to C$13.00 in a report on Wednesday, November 13th. BMO Capital Markets lowered shares of Martinrea International from an “outperform” rating to a “market perform” rating and reduced their target price for the company from C$13.00 to C$11.00 in a research note on Monday. Finally, CIBC decreased their target price on shares of Martinrea International from C$17.00 to C$14.50 in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$14.20.

Martinrea International Stock Down 1.1 %

The business’s fifty day moving average price is C$10.60 and its 200 day moving average price is C$11.13. The company has a current ratio of 1.25, a quick ratio of 0.68 and a debt-to-equity ratio of 83.13. The company has a market capitalization of C$680.77 million, a P/E ratio of 5.03, a P/E/G ratio of 0.82 and a beta of 2.08.

Insider Activity

In other news, Director Robert Peter Edward Wildeboer purchased 7,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of C$10.02 per share, for a total transaction of C$70,140.00. 11.31% of the stock is 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.