Martinrea International (TSE:MRE) Sets New 52-Week Low – Time to Sell?

Martinrea International Inc. (TSE:MRE)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as C$7.34 and last traded at C$7.35, with a volume of 71059 shares. The stock had previously closed at C$7.49.

Wall Street Analysts Forecast Growth

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

Martinrea International Stock Down 2.3 %

The firm has a market cap of C$544.12 million, a P/E ratio of 5.45, a P/E/G ratio of 0.82 and a beta of 2.08. The business’s fifty day moving average price is C$8.55 and its two-hundred day moving average price is C$9.91. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 80.32.

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.