Martinrea International (MRE) Reaches New 12-Month Low at $17.05

Martinrea International Inc. (TSE:MRE)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as C$17.05 and last traded at C$17.17, with a volume of 51511 shares. The stock had previously closed at C$17.19.

MRE has been the subject of several recent research reports. Royal Bank of Canada upped their price target on shares of Martinrea International from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Monday, March 5th. CIBC upped their price target on shares of Martinrea International from C$15.00 to C$17.00 in a research report on Monday, March 5th. BMO Capital Markets upped their price target on shares of Martinrea International from C$14.50 to C$18.00 and gave the stock an “outperform” rating in a research report on Monday, March 5th. TD Securities upped their price target on shares of Martinrea International from C$17.00 to C$18.50 and gave the stock a “buy” rating in a research report on Monday, March 5th. Finally, Scotiabank upped their price objective on shares of Martinrea International from C$18.00 to C$19.00 and gave the stock a “sector perform” rating in a report on Monday, March 5th.

Martinrea International (TSE:MRE) last posted its quarterly earnings data on Thursday, March 1st. The company reported C$0.50 earnings per share for the quarter, topping the consensus estimate of C$0.47 by C$0.03. The business had revenue of C$878.64 million during the quarter, compared to the consensus estimate of C$861.60 million. Martinrea International had a net margin of 3.68% and a return on equity of 13.91%.

In related news, Director Terrence Lyons acquired 5,000 shares of Martinrea International stock in a transaction that occurred on Tuesday, May 8th. The stock was acquired at an average price of C$17.25 per share, with a total value of C$86,250.00. Also, insider Amurrio Juan Jose Nardiz purchased 6,645 shares of the business’s stock in a transaction on Tuesday, March 27th. The stock was acquired at an average cost of C$15.19 per share, with a total value of C$100,937.55. Insiders purchased 15,745 shares of company stock valued at $248,994 in the last ninety days.

Martinrea International Company Profile

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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