Martinrea International (TSE:MRE) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

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$10.15 and traded as high as C$11.04. Martinrea International shares last traded at C$10.81, with a volume of 223,136 shares trading hands.

Analyst Ratings Changes

Separately, BMO Capital Markets increased their price objective on Martinrea International from C$9.00 to C$11.00 in a research note on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Martinrea International has an average rating of “Buy” and an average target price of C$12.50.

Martinrea International Stock Up 5.2%

The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 80.32. The company has a market capitalization of C$786.84 million, a PE ratio of -21.20, a P/E/G ratio of 0.82 and a beta of 1.58. The stock has a 50-day moving average of C$10.24 and a 200 day moving average of C$10.16.

Martinrea International Company Profile

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. The company also provides metal forming and welding solutions. The largest end market for Martinrea’s products is in North America.