Martinrea International Inc (MRE) Trading Down 5.4%
Martinrea International Inc (TSE:MRE) was down 5.4% during trading on Wednesday . The stock traded as low as C$13.05 and last traded at C$12.35. Approximately 361,623 shares were traded during trading, an increase of 69% from the average daily volume of 214,515 shares. The stock had previously closed at C$13.05.
Several equities research analysts recently issued reports on MRE shares. BMO Capital Markets raised Martinrea International from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from C$11.00 to C$14.00 in a research note on Wednesday, August 9th. Royal Bank Of Canada increased their price objective on Martinrea International from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. Finally, Scotiabank increased their price objective on Martinrea International from C$15.00 to C$15.50 and gave the stock a “sector perform” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$13.50.
About Martinrea International
Martinrea International Inc is a Canada-based company engaged in the development and production of metal parts, assemblies and modules, fluid management systems and complex aluminum products focused primarily on the automotive sector. The Company’s segments are North America, Europe and Rest of the World.
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