Raymond James Analysts Give Martinrea International (TSE:MRE) a C$16.00 Price Target

Raymond James set a C$16.00 price objective on Martinrea International (TSE:MRE) in a report released on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock. Raymond James also issued estimates for Martinrea International’s Q3 2020 earnings at $0.49 EPS, Q4 2020 earnings at $0.47 EPS, FY2020 earnings at $0.42 EPS, Q1 2021 earnings at $0.47 EPS, Q2 2021 earnings at $0.47 EPS, Q3 2021 earnings at $0.49 EPS and FY2021 earnings at $1.91 EPS.

Several other analysts also recently weighed in on MRE. BMO Capital Markets lowered their target price on Martinrea International from C$11.50 to C$11.00 in a report on Friday, June 26th. CIBC boosted their target price on shares of Martinrea International from C$13.00 to C$14.50 in a research report on Monday, July 20th. Finally, TD Securities increased their price target on shares of Martinrea International from C$9.00 to C$14.00 and gave the company a hold rating in a report on Tuesday, June 9th.

TSE:MRE opened at C$10.06 on Monday. The company’s 50 day moving average is C$10.22 and its 200-day moving average is C$9.50. The company has a quick ratio of 0.77, a current ratio of 1.39 and a debt-to-equity ratio of 97.33. Martinrea International has a 12 month low of C$5.64 and a 12 month high of C$14.75. The firm has a market cap of $805.59 million and a price-to-earnings ratio of -40.56.

Martinrea International (TSE:MRE) last announced its earnings results on Monday, August 10th. The company reported C($0.91) EPS for the quarter, missing the consensus estimate of C($0.82) by C($0.09). The company had revenue of C$460.56 million for the quarter, compared to analysts’ expectations of C$415.00 million. Research analysts predict that Martinrea International will post 1.9500002 EPS for the current fiscal year.

In other news, Senior Officer Robert Fairchild bought 3,600 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was acquired at an average cost of C$10.82 per share, for a total transaction of C$38,959.20. Following the completion of the purchase, the insider now owns 32,550 shares of the company’s stock, valued at approximately C$352,256.10.

About Martinrea International

Martinrea International Inc designs, engineers, 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. The company offers aluminum products, including engine blocks, oil pans, cam carriers, camshaft and transmission housings, sub frames, knuckles, control arms, longitudinal and cross members, shock towers, components for electric vehicles, fabrication and modules, and aluminum plates and coils.

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