Methanex (NASDAQ:MEOH) Price Target Cut to $53.00 by Analysts at UBS Group

Methanex (NASDAQ:MEOH) (TSE:MX) had its target price cut by UBS Group from $54.00 to $53.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Other equities analysts have also recently issued research reports about the company. Raymond James dropped their price target on Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. Barclays cut Methanex from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $56.00 to $44.00 in a research note on Tuesday, September 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a research note on Tuesday, September 3rd. Scotiabank lifted their price target on Methanex from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 10th. Finally, Piper Sandler lifted their price target on Methanex from $51.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.25.

Methanex Price Performance

Methanex stock traded up $0.35 during midday trading on Thursday, hitting $42.19. The company’s stock had a trading volume of 706,401 shares, compared to its average volume of 301,022. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.80. The stock’s 50-day moving average price is $41.08 and its 200-day moving average price is $46.03. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43. The company has a market capitalization of $2.84 billion, a PE ratio of 19.12 and a beta of 1.36.

Institutional Investors Weigh In On Methanex

Large investors have recently made changes to their positions in the company. Headlands Technologies LLC lifted its holdings in Methanex by 346.5% in the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 700 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of Methanex during the first quarter worth approximately $45,000. Blue Trust Inc. lifted its holdings in shares of Methanex by 52,500.0% during the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock worth $70,000 after buying an additional 1,575 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 buying an additional 1,626 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Methanex during the second quarter worth approximately $201,000. 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.