Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX had its price objective upped by investment analysts at Barclays from $44.00 to $46.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the specialty chemicals company's stock. Barclays's target price would suggest a potential upside of 8.13% from the stock's current price.
Several other analysts also recently commented on the stock. StockNews.com upgraded shares of Methanex from a "hold" rating to a "buy" rating in a research report on Friday. Royal Bank of Canada restated a "sector perform" rating and issued a $55.00 price target on shares of Methanex in a research note on Tuesday, September 3rd. Raymond James reduced their price objective on shares of Methanex from $62.00 to $54.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 11th. UBS Group decreased their target price on Methanex from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Piper Sandler increased their price target on Methanex from $51.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.50.
View Our Latest Stock Report on MEOH
MEOH traded up $0.35 during trading on Monday, hitting $42.54. The company's stock had a trading volume of 105,203 shares, compared to its average volume of 300,123. The business's 50 day simple moving average is $40.99 and its 200-day simple moving average is $45.97. The firm has a market cap of $2.87 billion, a PE ratio of 20.04 and a beta of 1.36. Methanex has a one year low of $36.13 and a one year high of $56.43. The company has a quick ratio of 0.87, a current ratio of 1.34 and a debt-to-equity ratio of 0.79.
A number of institutional investors have recently bought and sold shares of the stock. PCJ Investment Counsel Ltd. purchased a new stake in shares of Methanex in the third quarter valued at $471,000. MQS Management LLC purchased a new position in shares of Methanex during the third quarter valued at approximately $401,000. Chartwell Investment Partners LLC grew its stake in shares of Methanex by 27.8% during the third quarter. Chartwell Investment Partners LLC now owns 202,863 shares of the specialty chemicals company's stock valued at $8,387,000 after buying an additional 44,173 shares during the last quarter. Westbourne Investment Advisors Inc. raised its holdings in shares of Methanex by 1.6% in the third quarter. Westbourne Investment Advisors Inc. now owns 110,606 shares of the specialty chemicals company's stock worth $4,572,000 after buying an additional 1,789 shares during the period. Finally, US Bancorp DE lifted its stake in shares of Methanex by 34.2% during the 3rd quarter. US Bancorp DE now owns 13,888 shares of the specialty chemicals company's stock worth $574,000 after acquiring an additional 3,540 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.
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.
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