Penny Stocks – TD Securities Raises Martinrea International (TSE:MRE) price Target to C$18.00
Martinrea International (TSE:MRE) had its target price lifted by stock analysts at TD Securities from C$17.00 to C$18.00 in a research note issued on Friday, Analyst Ratings Network reports. The firm currently has a “hold” rating on the stock. TD Securities’ price objective would suggest a potential upside of 30.72% from the stock’s current price.
Several other equities research analysts have also recently issued reports on the stock. Raymond James raised their price target on shares of Martinrea International to C$18.00 and gave the stock an “outperform” rating in a research note on Friday. CIBC raised their target price on shares of Martinrea International from C$21.00 to C$22.00 in a research report on Friday, March 5th. BMO Capital Markets increased their price target on Martinrea International from C$16.00 to C$17.00 in a research note on Friday, March 5th. Royal Bank of Canada lifted their price objective on Martinrea International from C$19.00 to C$21.00 and gave the company an “outperform” rating in a research report on Friday, January 8th. Finally, Scotiabank reduced their target price on Martinrea International from C$19.50 to C$18.50 in a research report on Friday, March 5th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Martinrea International has an average rating of “Buy” and an average price target of C$19.14.
Shares of Martinrea International stock traded up C$0.23 during trading on Friday, hitting C$13.77. 365,562 shares of the company were exchanged, compared to its average volume of 296,677. The firm has a 50 day moving average price of C$13.26 and a 200 day moving average price of C$13.86. The stock has a market capitalization of C$1.11 billion and a price-to-earnings ratio of -40.38. The company has a quick ratio of 0.73, a current ratio of 1.22 and a debt-to-equity ratio of 89.05. Martinrea International has a fifty-two week low of C$7.05 and a fifty-two week high of C$16.27.
Martinrea International (TSE:MRE) last issued its quarterly earnings data on Thursday, March 4th. The company reported C$0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.54 by C$0.01. The company had revenue of C$1.07 billion during the quarter, compared to analysts’ expectations of C$1.01 billion. Analysts predict that Martinrea International will post 2.5199999 earnings per share for the current year.
In other news, Director Robert Peter Edward Wildeboer bought 11,700 shares of Martinrea International stock in a transaction that occurred on Tuesday, March 9th. The shares were purchased at an average price of C$13.82 per share, for a total transaction of C$161,694.00. Following the completion of the acquisition, the director now owns 525,000 shares of the company’s stock, valued at C$7,255,500.
About Martinrea International
Martinrea International Inc designs, develops, manufactures, and sells metal parts, assemblies and modules, fluid management systems, and aluminum products primarily to the automotive industry in North America, Europe, and internationally. It offers engine blocks, transmissions, cases, housings, ladder frames, oil coolers, hoses, tube assemblies, oil fillers, tubes, indicators, oil pick-up screens and pipes, heater hose inlets and outlets, and electric motor housings; and front horizontal, rear suspension, and front vertical modules.
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