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

Martinrea International (TSE:MRE) had its target price dropped by equities research analysts at Scotiabank from C$15.00 to C$14.50 in a research report issued to clients and investors on Friday, BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 21.44% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. CIBC reduced their price objective on 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. Raymond James lowered their price target 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 downgraded Martinrea International from an “action list buy” rating to a “buy” rating and decreased their price objective for the company from C$21.00 to C$19.00 in a report on Friday, March 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$18.14.

Martinrea International Trading Up 5.2 %

Shares of TSE MRE traded up C$0.59 during midday trading on Friday, hitting C$11.94. The stock had a trading volume of 447,733 shares, compared to its average volume of 210,652. The company’s 50-day simple moving average is C$11.83 and its 200 day simple moving average is C$12.67. The firm has a market cap of C$932.99 million, a P/E ratio of 6.20, a price-to-earnings-growth ratio of 0.82 and a beta of 2.29. Martinrea International has a fifty-two week low of C$10.75 and a fifty-two week high of C$15.16. The company has a debt-to-equity ratio of 83.83, a current ratio of 1.16 and a quick ratio of 0.68.

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

Insider Buying and Selling at Martinrea International

In other news, Director Frank Patrick D’eramo purchased 22,200 shares of the stock in a transaction on Friday, March 8th. The shares were acquired at an average price of C$8.88 per share, with a total value of C$197,047.20. In related news, Senior Officer Alfredo Alonso acquired 7,490 shares of the stock in a transaction on Monday, March 18th. The shares were acquired at an average price of C$8.70 per share, for a total transaction of C$65,163.00. Also, Director Frank Patrick D’eramo acquired 22,200 shares of Martinrea International stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of C$8.88 per share, with a total value of C$197,047.20. In the last ninety days, insiders bought 38,353 shares of company stock worth $348,645. 15.10% of the stock is owned by corporate insiders.

About Martinrea International

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.