Methanex (NASDAQ:MEOH) (TSE:MX) had its price target lifted by research analysts at Monness Crespi & Hardt from $65.00 to $72.00 in a note issued to investors on Friday, February 2nd, Marketbeat.com reports. The firm presently has a “buy” rating on the specialty chemicals company’s stock. Monness Crespi & Hardt’s target price suggests a potential upside of 34.15% from the company’s previous close.
MEOH has been the topic of a number of other reports. Scotiabank set a $53.50 target price on shares of Methanex and gave the stock a “sector perform” rating in a research report on Thursday, October 26th. Cowen reaffirmed an “outperform” rating and set a $65.00 target price (up from $58.00) on shares of Methanex in a research report on Thursday, December 14th. Raymond James Financial downgraded shares of Methanex from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a research note on Tuesday, October 31st. BidaskClub upgraded shares of Methanex from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Finally, UBS Group increased their price objective on shares of Methanex from $42.00 to $44.00 and gave the company a “sell” rating in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $59.00.
Shares of Methanex (NASDAQ MEOH) traded down $1.23 during trading hours on Friday, hitting $53.67. 437,378 shares of the stock were exchanged, compared to its average volume of 753,151. The stock has a market capitalization of $4,854.51, a price-to-earnings ratio of 15.16, a PEG ratio of 0.72 and a beta of 1.73. Methanex has a fifty-two week low of $39.47 and a fifty-two week high of $64.60. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Methanex by 3.8% in the second quarter. Vanguard Group Inc. now owns 2,067,886 shares of the specialty chemicals company’s stock valued at $91,090,000 after acquiring an additional 76,132 shares in the last quarter. Polaris Capital Management LLC raised its holdings in shares of Methanex by 30,312.3% in the fourth quarter. Polaris Capital Management LLC now owns 699,482 shares of the specialty chemicals company’s stock worth $46,152,000 after buying an additional 697,182 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Methanex by 2.4% in the third quarter. TD Asset Management Inc. now owns 612,576 shares of the specialty chemicals company’s stock worth $30,711,000 after buying an additional 14,592 shares during the last quarter. Gotham Asset Management LLC purchased a new position in shares of Methanex in the second quarter worth $23,031,000. Finally, AGF Investments Inc. raised its holdings in shares of Methanex by 21.9% in the third quarter. AGF Investments Inc. now owns 499,132 shares of the specialty chemicals company’s stock worth $25,082,000 after buying an additional 89,812 shares during the last quarter. Institutional investors own 84.74% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This story was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this story can be read at https://sportsperspectives.com/2018/02/03/methanex-meoh-pt-raised-to-72-00.html.
Methanex Company Profile
Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
Receive News & Ratings for Methanex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methanex and related companies with MarketBeat.com's FREE daily email newsletter.