Methanex (NASDAQ:MEOH) Price Target Lowered to $55.00 at CIBC

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective cut by equities researchers at CIBC from $63.00 to $55.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has an “outperformer” rating on the specialty chemicals company’s stock. CIBC’s price objective points to a potential upside of 91.50% from the company’s current price.

MEOH has been the subject of a number of other reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research note on Tuesday. Scotiabank cut shares of Methanex from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $66.00 to $53.00 in a report on Monday, March 10th. Barclays dropped their price target on Methanex from $57.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, UBS Group increased their target price on shares of Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.63.

Methanex Stock Down 7.6 %

NASDAQ:MEOH opened at $28.72 on Thursday. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. Methanex has a 12-month low of $27.35 and a 12-month high of $56.43. The firm has a market capitalization of $1.94 billion, a P/E ratio of 12.43 and a beta of 1.38. The stock’s fifty day simple moving average is $42.47 and its 200-day simple moving average is $43.96.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, topping 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%. Equities research analysts expect that Methanex will post 4.32 earnings per share for the current year.

Hedge Funds Weigh In On Methanex

A number of institutional investors have recently bought and sold shares of MEOH. Wilmington Savings Fund Society FSB bought a new position in shares of Methanex during the 3rd quarter worth approximately $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 purchasing an additional 573 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Methanex in the fourth quarter valued at $106,000. State of Wyoming bought a new position in shares of Methanex in the fourth quarter valued at about $129,000. Finally, Blue Trust Inc. lifted its stake in shares of Methanex by 15.0% during the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock worth $142,000 after buying an additional 371 shares during the last quarter. 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.