Methanex (NASDAQ:MEOH) Price Target Raised to $46.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective hoisted by Barclays from $44.00 to $46.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the specialty chemicals company’s stock.

A number of other equities analysts have also issued reports on the company. Raymond James lowered their price target on Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. UBS Group lowered their target price on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. StockNews.com upgraded Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price target on shares of Methanex in a report on Tuesday, September 3rd. Finally, Piper Sandler boosted their price objective on shares of Methanex from $51.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Methanex presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.50.

Methanex Stock Down 0.1 %

MEOH stock opened at $42.29 on Monday. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 19.77 and a beta of 1.36. The company has a fifty day moving average price of $40.86 and a 200 day moving average price of $45.89.

Institutional Trading of Methanex

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC lifted its position in shares of Methanex by 346.5% during the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 700 shares during the period. Blue Trust Inc. increased its stake in Methanex by 52,500.0% in the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock valued at $70,000 after purchasing an additional 1,575 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Methanex by 572.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock worth $93,000 after purchasing an additional 1,626 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Methanex during the second quarter worth $201,000. Finally, Value Partners Investments Inc. grew its holdings in Methanex by 10.4% in the third quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock valued at $233,000 after purchasing an additional 532 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.