Martinrea International (TSE:MRE) Stock Price Crosses Above 200 Day Moving Average of $10.70

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Martinrea International Inc (TSE:MRE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.70 and traded as high as $12.52. Martinrea International shares last traded at $12.39, with a volume of 161,464 shares changing hands.

Several analysts have issued reports on MRE shares. TD Securities downgraded shares of Martinrea International from a “buy” rating to a “hold” rating and reduced their price target for the company from C$15.00 to C$14.00 in a report on Wednesday, November 13th. Scotiabank upped their price target on shares of Martinrea International from C$17.50 to C$19.00 in a report on Wednesday, November 27th. CIBC reduced their price target on shares of Martinrea International from C$17.00 to C$16.00 in a report on Wednesday, November 13th. Finally, BMO Capital Markets reduced their price target on shares of Martinrea International from C$14.00 to C$11.00 in a report on Wednesday, August 7th.

The company has a quick ratio of 0.88, a current ratio of 1.42 and a debt-to-equity ratio of 83.59. The firm has a market cap of $1.01 billion and a PE ratio of 6.19. The firm’s 50 day moving average is C$11.35 and its 200-day moving average is C$10.70.

In other news, Senior Officer Ganesh Koduvayur Venkatasubramanian Kesavan Iyer acquired 2,200 shares of Martinrea International stock in a transaction that occurred on Tuesday, September 17th. The shares were acquired at an average price of C$11.51 per share, with a total value of C$25,322.88. Following the completion of the purchase, the insider now owns 12,850 shares of the company’s stock, valued at approximately C$147,908.64.

Martinrea International Company Profile (TSE:MRE)

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.

Further Reading: Differences Between Momentum Investing and Long Term Investing

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