CIBC Raises Martinrea International (TSE:MRE) Price Target to C$10.50

Martinrea International (TSE:MRE) had its price objective boosted by CIBC from C$10.00 to C$10.50 in a report issued on Wednesday morning,BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on the company. Raymond James Financial decreased their price target on Martinrea International from C$14.00 to C$12.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. TD Securities boosted their price target on Martinrea International from C$13.00 to C$14.00 and gave the company a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Martinrea International currently has an average rating of “Hold” and a consensus target price of C$11.88.

Martinrea International Stock Performance

Shares of Martinrea International stock opened at C$9.53 on Wednesday. The company has a debt-to-equity ratio of 80.32, a quick ratio of 0.68 and a current ratio of 1.23. Martinrea International has a one year low of C$6.12 and a one year high of C$11.91. The company has a market cap of C$708.39 million, a PE ratio of 7.10, a P/E/G ratio of 0.82 and a beta of 2.08. The business has a 50-day simple moving average of C$8.53 and a 200-day simple moving average of C$8.02.

Martinrea International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.1%. Martinrea International’s dividend payout ratio (DPR) is 14.90%.

Insider Activity at Martinrea International

In related news, Senior Officer Peter Cirulis bought 4,568 shares of Martinrea International stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average price of C$7.99 per share, with a total value of C$36,485.07. 11.31% of the stock is owned by company insiders.

About Martinrea International

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.