This auto parts manufacturer’s valuation has room to expand
On today’s TSX Breakouts report, there are 31 stocks on the positive breakouts list , and 30 securities are on the negative breakouts list .Martinrea International Inc). Martinrea is the top performing stock in the S&P/TSX SmallCap Consumer Discretionary sector year-to-date and over the past 12 months with gains of 34 per cent and 81 per cent, respectively.
A brief outline on Martinrea is provided below that may serve as a springboard for further fundamental research when conducting your own due diligence.Vaughan, Ont,-based Martinrea is an automotive parts supplier with global operations. Its top platforms include GM pickups and SUVs, Ford Escape/Maverick, Jeep Grand Cherokee, GM Equinox/Terrain, Jeep Wagoneer/Grand Wagoneer, and the Ford F-150.
On the earnings call, executive chairman Rob Wildeboer provided a positive outlook, “As we look to 2023 and beyond, we do so with renewed confidence. We have been through a tough three-year period. We believe we will see better industry sales and production growth, especially in North America where most of our operations are located.
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