Martinrea International (TSE:MRE) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Martinrea International Inc. (TSE:MRE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.04 and traded as high as C$10.17. Martinrea International shares last traded at C$10.12, with a volume of 163,265 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MRE shares. TD Securities raised their target price on Martinrea International from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. CIBC upgraded Martinrea International from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from C$10.50 to C$13.00 in a research report on Tuesday, August 26th. Finally, Cibc World Mkts upgraded Martinrea International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$12.50.

Martinrea International Stock Performance

The stock has a fifty day simple moving average of C$10.53 and a two-hundred day simple moving average of C$9.04. The company has a debt-to-equity ratio of 80.32, a quick ratio of 0.68 and a current ratio of 1.23. The stock has a market capitalization of C$736.61 million, a price-to-earnings ratio of -12.65, a P/E/G ratio of 0.82 and a beta of 1.89.

Martinrea International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, September 29th. Martinrea International’s payout ratio is presently -25.00%.

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.