Martinrea International (TSE:MRE) Stock Jumps 10.9% on Analyst Upgrade

Martinrea International Inc. (TSE:MRE) rose 10.9% during mid-day trading on Friday after Raymond James Financial raised their price target on the stock from C$12.00 to C$14.00. Raymond James Financial currently has an outperform rating on the stock. Martinrea International traded as high as C$10.88 and last traded at C$10.71. Approximately 289,682 shares traded hands during mid-day trading, an increase of 227% from the average session volume of 88,632 shares. The stock had previously closed at C$9.66.

Separately, TD dropped their price objective on shares of Martinrea International from C$16.00 to C$15.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Martinrea International currently has a consensus rating of “Moderate Buy” and an average price target of C$13.62.

Martinrea International Price Performance

The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 71.37. The stock’s fifty day moving average price is C$9.91 and its two-hundred day moving average price is C$10.11. The firm has a market capitalization of C$766.23 million, a price-to-earnings ratio of 6.40, a price-to-earnings-growth ratio of 0.82 and a beta of 1.68.

Martinrea International (TSE:MRE) last posted its earnings results on Thursday, November 12th. The company reported C$0.52 EPS for the quarter. Martinrea International had a return on equity of 7.89% and a net margin of 2.60%. The firm had revenue of C$1.18 billion for the quarter. Equities research analysts expect that Martinrea International Inc. will post 2.50 EPS for the current year.

About Martinrea International

Martinrea International Inc. is a leader in the development and production of quality metal parts, assemblies and modules, fluid management systems, and complex aluminum products focused primarily on the automotive sector. Martinrea currently operates in 56 locations in Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain, China, South Africa, and Japan. Martinrea’s vision is making lives better by being the best supplier we can be in the products we make and the services we provide.