Methanex (NASDAQ:MEOH) Price Target Raised to $54.00 at Barclays

Methanex (NASDAQ:MEOH) (TSE:MX) had its price target boosted by research analysts at Barclays from $46.00 to $54.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s price target would indicate a potential upside of 6.34% from the company’s previous close.

MEOH has been the subject of a number of other reports. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. UBS Group dropped their price target on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. CIBC reaffirmed an “outperformer” rating and issued a $59.00 price target (up from $48.00) on shares of Methanex in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Methanex Stock Down 0.2 %

Shares of Methanex stock opened at $50.78 on Monday. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. Methanex has a 12-month low of $36.13 and a 12-month high of $56.43. The company has a market cap of $3.42 billion, a P/E ratio of 23.73 and a beta of 1.37. The company’s fifty day simple moving average is $47.88 and its two-hundred day simple moving average is $44.93.

Institutional Investors Weigh In On Methanex

A number of institutional investors have recently made changes to their positions in MEOH. Wilmington Savings Fund Society FSB bought a new position in Methanex during the third quarter valued at approximately $40,000. Blue Trust Inc. grew its position in Methanex by 56.8% during the third quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 896 shares during the period. Squarepoint Ops LLC purchased a new stake in Methanex during the second quarter valued at approximately $201,000. Legacy Wealth Asset Management LLC bought a new position in Methanex in the fourth quarter worth approximately $220,000. Finally, Value Partners Investments Inc. boosted its stake in shares of Methanex by 10.4% during the 3rd quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock worth $233,000 after acquiring 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.