Methanex (NASDAQ:MEOH) Stock Price Expected to Rise, Barclays Analyst Says

Methanex (NASDAQ:MEOH) (TSE:MX) had its price target hoisted by Barclays from $54.00 to $57.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s target price would indicate a potential upside of 18.06% from the company’s current price.

Other analysts also recently issued reports about the stock. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. UBS Group raised their target price on Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Piper Sandler lifted their price target on Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Scotiabank increased their price target on Methanex from $60.00 to $66.00 and gave the stock a “sector outperform” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price objective on shares of Methanex in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Methanex has an average rating of “Moderate Buy” and an average price target of $62.25.

Methanex Trading Down 3.1 %

Methanex stock opened at $48.28 on Monday. Methanex has a 52 week low of $36.13 and a 52 week high of $56.43. The stock has a 50-day moving average price of $49.01 and a 200 day moving average price of $44.96. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 20.90 and a beta of 1.36.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. Sell-side analysts anticipate that Methanex will post 4.2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Methanex during the third quarter worth $40,000. Parkside Financial Bank & Trust boosted its position in Methanex by 39.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock worth $101,000 after acquiring an additional 573 shares during the last quarter. Blue Trust Inc. grew its stake in Methanex by 56.8% during the 3rd quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock valued at $102,000 after acquiring an additional 896 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Methanex in the 4th quarter valued at about $166,000. Finally, Signaturefd LLC lifted its stake in Methanex by 15.0% in the 4th quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company’s stock worth $172,000 after purchasing an additional 450 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

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.