Methanex (NASDAQ:MEOH) Price Target Raised to $50.00

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX had its target price upped by analysts at Royal Bank of Canada from $45.00 to $50.00 in a report released on Friday, BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the specialty chemicals company's stock. Royal Bank of Canada's price target would suggest a potential upside of 3.58% from the stock's previous close.

A number of other brokerages have also recently issued reports on MEOH. CIBC lifted their price objective on shares of Methanex from $46.00 to $48.00 and gave the company a "neutral" rating in a report on Wednesday, January 10th. TheStreet upgraded shares of Methanex from a "c" rating to a "b-" rating in a research note on Thursday, January 11th. UBS Group lifted their target price on shares of Methanex from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday. Barclays increased their price target on Methanex from $53.00 to $56.00 and gave the company an "overweight" rating in a research report on Monday, February 12th. Finally, Raymond James cut their price objective on Methanex from $67.00 to $62.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Methanex has an average rating of "Moderate Buy" and an average target price of $54.38.

Methanex Trading Up 1.0 %

Shares of MEOH stock traded up $0.50 during trading hours on Friday, hitting $48.27. 490,873 shares of the company's stock traded hands, compared to its average volume of 305,186. The stock's 50 day simple moving average is $45.53 and its 200 day simple moving average is $44.71. The stock has a market cap of $3.25 billion, a PE ratio of 20.45 and a beta of 1.50. Methanex has a 12 month low of $38.18 and a 12 month high of $51.42. The company has a quick ratio of 0.81, a current ratio of 1.14 and a debt-to-equity ratio of 0.84.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.24. The business had revenue of $922.00 million during the quarter, compared to analysts' expectations of $901.21 million. Methanex had a net margin of 4.63% and a return on equity of 5.36%. On average, sell-side analysts anticipate that Methanex will post 2.35 EPS for the current year.

Institutional Investors Weigh In On Methanex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. U S Global Investors Inc. bought a new stake in Methanex in the 1st quarter valued at about $178,000. Citigroup Inc. increased its position in shares of Methanex by 40.2% in the third quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company's stock worth $183,000 after purchasing an additional 1,158 shares during the last quarter. Ausbil Investment Management Ltd purchased a new stake in Methanex in the fourth quarter worth approximately $195,000. Advisor Partners II LLC purchased a new stake in Methanex in the third quarter worth approximately $209,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Methanex during the third quarter valued at approximately $216,000. 73.49% of the stock is currently owned by institutional investors.

About Methanex

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.