Martinrea International (TSE:MRE) Given New C$17.50 Price Target at CIBC

Martinrea International (TSE:MRE) had its price objective trimmed by CIBC from C$18.00 to C$17.50 in a report published on Monday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Scotiabank reduced their target price on Martinrea International from C$15.00 to C$14.50 in a report on Friday. Raymond James reduced their target price 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. Finally, TD Securities lowered Martinrea International from an action list buy rating to a buy rating and decreased their target price for the stock from C$21.00 to C$19.00 in a research note on Friday, March 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of C$18.25.

Martinrea International Price Performance

Shares of MRE stock opened at C$11.70 on Monday. The company has a market cap of C$897.86 million, a P/E ratio of 6.19, a P/E/G ratio of 0.82 and a beta of 2.23. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 84.42. The business has a fifty day simple moving average of C$11.75 and a 200 day simple moving average of C$12.68. Martinrea International has a twelve month low of C$10.75 and a twelve month high of C$15.16.

Martinrea International (TSE:MRE) last released its earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.42 by C($0.05). The firm had revenue of C$1.30 billion during the quarter, compared to analyst estimates of C$1.19 billion. Martinrea International had a net margin of 2.78% and a return on equity of 10.13%. On average, sell-side analysts forecast that Martinrea International will post 2.2317757 EPS for the current fiscal year.

Martinrea International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be paid a $0.05 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. Martinrea International’s dividend payout ratio is presently 10.58%.

Insider Buying and Selling at Martinrea International

In related news, Director Frank Patrick D’eramo acquired 22,200 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of C$8.88 per share, with a total value of C$197,047.20. In other news, Senior Officer Alfredo Alonso bought 7,490 shares of the stock in a transaction dated Monday, March 18th. The stock was purchased 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 the business’s stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of C$8.88 per share, for a total transaction of C$197,047.20. Insiders bought a total of 38,353 shares of company stock worth $348,645 in the last three months. 15.38% of the stock is currently owned by company 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.