Methanex Co. (NASDAQ:MEOH) Receives $55.38 Consensus Target Price from Brokerages

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have received an average rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $55.38.

A number of research firms recently weighed in on MEOH. UBS Group decreased their target price on Methanex from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Barclays cut shares of Methanex from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $56.00 to $44.00 in a research note on Tuesday, September 10th. Raymond James decreased their price target on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. Scotiabank raised their price objective on shares of Methanex from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research report on Tuesday, September 3rd.

Methanex Price Performance

Shares of NASDAQ MEOH opened at $39.19 on Thursday. 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 business’s 50 day moving average price is $41.43 and its two-hundred day moving average price is $46.17. The company has a market cap of $2.64 billion, a PE ratio of 18.23 and a beta of 1.36. Methanex has a twelve month low of $36.13 and a twelve month high of $56.43.

Institutional Investors Weigh In On Methanex

A number of large investors have recently added to or reduced their stakes in MEOH. Vanguard Group Inc. increased its position in shares of Methanex by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 2,443,939 shares of the specialty chemicals company’s stock worth $115,745,000 after purchasing an additional 425,104 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Methanex in the 1st quarter valued at approximately $494,000. Value Partners Investments Inc. bought a new stake in shares of Methanex during the 1st quarter worth approximately $201,000. Larson Financial Group LLC bought a new stake in shares of Methanex during the 1st quarter worth approximately $45,000. Finally, Duality Advisers LP acquired a new stake in shares of Methanex during the 1st quarter worth approximately $779,000. Institutional investors and hedge funds 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.