Martinrea International Inc’s Stock Is Sell After Today’s Gap Down

 Martinrea International Inc's Stock Is Sell After Today's Gap Down

The stock of Martinrea International Inc (TSE:MRE) gapped down by $0.03 today and has $6.43 target or 6.00% below today’s $6.84 share price. The 6 months technical chart setup indicates high risk for the $594.14M company. The gap down was reported on Nov, 9 by Barchart.com. If the $6.43 price target is reached, the company will be worth $35.65 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 256,779 shares traded hands or 18.11% up from the average. Martinrea International Inc (TSE:MRE) has declined 25.18% since April 5, 2016 and is downtrending. It has underperformed by 29.96% the S&P500.

Martinrea International Inc (TSE:MRE) Ratings Coverage

Out of 4 analysts covering Martinrea International Inc. (TSE:MRE), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. $21.50 is the highest target while $13.50 is the lowest. The $17.50 average target is 155.85% above today’s ($6.84) stock price. Martinrea International Inc. has been the topic of 10 analyst reports since July 29, 2015 according to StockzIntelligence Inc. As per Tuesday, December 1, the company rating was upgraded by Canaccord Genuity. On Monday, August 10 the stock rating was maintained by Canaccord Genuity with “Buy”. Paradigm Research maintained the stock with “Buy” rating in Monday, August 10 report. IBC maintained it with “Outperform” rating and $16.50 target price in Monday, August 10 report.

More recent Martinrea International Inc (TSE:MRE) news were published by: Marketwired.com which released: “Martinrea International Inc. to Announce Third Quarter Results on November 3, 2016” on October 28, 2016. Also Marketwired.com published the news titled: “Martinrea International Inc. to Appoint Pat D’Eramo as President and Chief …” on October 20, 2014. Seekingalpha.com‘s news article titled: “Martinrea International Inc.: A Badly Beat Up Auto Parts Manufacturer With 60 …” with publication date: December 24, 2013 was also an interesting one.

Martinrea International Inc. is a Canada firm engaged in the development and production of metal parts, assemblies and modules, fluid management systems and complex aluminum products focused primarily on the automotive sector. The company has a market cap of $594.14 million. The Company’s divisions are North America, Europe and Rest of the World. It has a 6.63 P/E ratio. It serves various vehicle manufacturers, as well as automotive suppliers and also serves other industrial sectors across the world.

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