Martinrea International (TSE:MRE) Sets New 1-Year Low – Should You Sell?

Martinrea International Inc. (TSE:MRE)’s share price hit a new 52-week low on Friday . The stock traded as low as C$7.26 and last traded at C$7.27, with a volume of 76919 shares changing hands. The stock had previously closed at C$7.48.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MRE shares. TD Securities reduced their price target on Martinrea International from C$13.00 to C$12.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Cibc World Mkts downgraded shares of Martinrea International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. CIBC cut shares of Martinrea International from an “outperform” rating to a “neutral” rating and lowered their target price for the company from C$14.00 to C$9.00 in a research note on Wednesday, March 5th. BMO Capital Markets lowered shares of Martinrea International from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from C$13.00 to C$11.00 in a research note on Monday, December 16th. Finally, Raymond James decreased their price objective on shares of Martinrea International from C$17.50 to C$14.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$12.10.

Martinrea International Stock Down 3.7 %

The company has a debt-to-equity ratio of 80.32, a quick ratio of 0.68 and a current ratio of 1.23. The stock’s fifty day simple moving average is C$8.26 and its two-hundred day simple moving average is C$9.64. The company has a market capitalization of C$535.20 million, a price-to-earnings ratio of 5.36, a P/E/G ratio of 0.82 and a beta of 2.08.

Insiders Place Their Bets

In other news, Senior Officer Peter Cirulis acquired 5,000 shares of Martinrea International stock in a transaction on Thursday, March 20th. The stock was bought at an average cost of C$7.39 per share, with a total value of C$36,965.50. Also, Senior Officer Francesco Barbara bought 13,300 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was purchased at an average price of C$7.90 per share, with a total value of C$105,070.00. Over the last 90 days, insiders have acquired 44,500 shares of company stock worth $343,408. 11.31% of the stock is owned by insiders.

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.