Analysts Set Methanex Co. (NASDAQ:MEOH) PT at $55.38

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $55.38.

MEOH has been the subject of several research analyst reports. Raymond James lowered their price objective on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. Barclays downgraded Methanex from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $56.00 to $44.00 in a report on Tuesday, September 10th. UBS Group cut their price target on Methanex from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price objective on shares of Methanex in a research note on Tuesday, September 3rd. Finally, Scotiabank increased their target price on shares of Methanex from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 10th.

Methanex Price Performance

Shares of NASDAQ MEOH opened at $39.19 on Thursday. The company has a market capitalization of $2.64 billion, a PE ratio of 18.23 and a beta of 1.36. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.80. Methanex has a twelve month low of $36.13 and a twelve month high of $56.43. The firm has a fifty day simple moving average of $41.43 and a 200 day simple moving average of $46.17.

Institutional Trading of Methanex

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in shares of Methanex during the first quarter valued at about $494,000. Duality Advisers LP bought a new stake in Methanex during the 1st quarter worth approximately $779,000. M&G Plc bought a new stake in Methanex during the 1st quarter worth approximately $589,459,000. Swiss National Bank raised its stake in shares of Methanex by 0.6% in the first quarter. Swiss National Bank now owns 127,500 shares of the specialty chemicals company’s stock worth $5,681,000 after purchasing an additional 700 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in shares of Methanex by 346.5% in the first quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 700 shares in the last quarter. 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.