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

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective upped by Barclays from $46.00 to $54.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s price target would indicate a potential upside of 10.11% from the stock’s current price.

MEOH has been the topic of several other research reports. Raymond James boosted their price target on Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research note on Monday, January 6th. Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. UBS Group reduced their price target on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, CIBC reaffirmed an “outperformer” rating and set a $59.00 price objective (up previously from $48.00) on shares of Methanex in a report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Methanex Stock Down 2.6 %

Shares of MEOH opened at $49.04 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $48.00 and a two-hundred day moving average price of $44.89. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 22.92 and a beta of 1.37. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of Methanex by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company’s stock valued at $4,340,000 after buying an additional 1,203 shares during the period. Barclays PLC boosted its holdings in Methanex by 64.9% in the third quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company’s stock valued at $845,000 after acquiring an additional 8,047 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Methanex in the third quarter worth about $1,092,000. Point72 Asset Management L.P. raised its holdings in Methanex by 1,495.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company’s stock worth $5,739,000 after purchasing an additional 130,127 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in Methanex by 19.6% during the 2nd quarter. Toronto Dominion Bank now owns 33,229 shares of the specialty chemicals company’s stock valued at $1,604,000 after purchasing an additional 5,451 shares during the period. Institutional investors own 73.49% of the company’s stock.

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.