Martinrea International (TSE:MRE) Shares Up 10.9% – Time to Buy?

Martinrea International Inc. (TSE:MRE)’s stock price was up 10.9% during trading on Friday. The company traded as high as C$10.88 and last traded at C$10.71. 289,682 shares were traded during mid-day trading, an increase of 227% from the average session volume of 88,632 shares. The stock had previously closed at C$9.66.

Analyst Upgrades and Downgrades

Separately, TD decreased their price target on Martinrea International from C$16.00 to C$15.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$13.50.

Martinrea International Trading Up 11.9%

The company’s 50 day simple moving average is C$9.89 and its 200 day simple moving average is C$10.11. The firm has a market cap of C$756.43 million, a price-to-earnings ratio of 6.32, a P/E/G ratio of 0.82 and a beta of 1.68. The company has a debt-to-equity ratio of 71.37, a current ratio of 1.23 and a quick ratio of 0.68.

Martinrea International (TSE:MRE) last issued its quarterly earnings results on Thursday, November 12th. The company reported C$0.52 earnings per share for the quarter. The company had revenue of C$1.18 billion for the quarter. Martinrea International had a return on equity of 7.89% and a net margin of 2.60%. As a group, research analysts expect that Martinrea International Inc. will post 2.50 earnings per share for the current fiscal year.

About Martinrea International

Martinrea International Inc. is a leader in the development and production of quality metal parts, assemblies and modules, fluid management systems, and complex aluminum products focused primarily on the automotive sector. Martinrea currently operates in 56 locations in Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain, China, South Africa, and Japan. Martinrea’s vision is making lives better by being the best supplier we can be in the products we make and the services we provide.