Martinrea International (TSE:MRE) Reaches New 52-Week Low – Here’s What Happened

Martinrea International Inc. (TSE:MRE) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as C$8.68 and last traded at C$8.76, with a volume of 30620 shares. The stock had previously closed at C$8.87.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. TD Securities dropped their target price on Martinrea International from C$18.00 to C$13.00 in a research report on Wednesday, November 13th. BMO Capital Markets cut Martinrea International from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from C$13.00 to C$11.00 in a report on Monday, December 16th. Raymond James reduced their target price on Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating for the company in a report on Friday. Finally, CIBC lowered their price target on shares of Martinrea International from C$17.00 to C$14.50 in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$13.40.

Martinrea International Stock Performance

The company has a market capitalization of C$627.66 million, a P/E ratio of 4.64, a PEG ratio of 0.82 and a beta of 2.08. The company has a quick ratio of 0.68, a current ratio of 1.25 and a debt-to-equity ratio of 83.13. The company’s 50-day moving average is C$9.77 and its two-hundred day moving average is C$10.76.

Insider Activity

In other Martinrea International news, Director Robert Peter Edward Wildeboer acquired 7,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was purchased at an average cost of C$10.02 per share, for a total transaction of C$70,140.00. Corporate insiders own 11.31% of the company’s stock.

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.