Methanex (NASDAQ:MEOH) (TSE:MX) has been given a $90.00 price target by investment analysts at Raymond James in a report released on Friday. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Raymond James’ price target suggests a potential upside of 36.59% from the company’s current price.
MEOH has been the subject of a number of other research reports. ValuEngine cut Methanex from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Monness Crespi & Hardt upped their price objective on Methanex from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, September 25th. TD Securities upgraded Methanex from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Friday. They noted that the move was a valuation call. Cowen upped their price objective on Methanex from $80.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, October 15th. Finally, Royal Bank of Canada upped their price objective on Methanex from $78.00 to $83.00 and gave the company a “sector perform” rating in a research report on Monday, October 1st. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $83.15.
Methanex stock opened at $65.89 on Friday. The firm has a market cap of $5.17 billion, a P/E ratio of 8.90, a PEG ratio of 0.60 and a beta of 1.56. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.70 and a quick ratio of 1.18. Methanex has a one year low of $48.55 and a one year high of $83.23.
A number of institutional investors and hedge funds have recently modified their holdings of MEOH. Mount Yale Investment Advisors LLC purchased a new stake in Methanex in the first quarter worth about $120,000. Highstreet Asset Management Inc. purchased a new stake in Methanex in the second quarter worth about $183,000. Cerebellum GP LLC purchased a new stake in Methanex in the third quarter worth about $188,000. Advisors Preferred LLC increased its position in Methanex by 57.8% in the second quarter. Advisors Preferred LLC now owns 2,688 shares of the specialty chemicals company’s stock worth $190,000 after buying an additional 985 shares in the last quarter. Finally, Suntrust Banks Inc. purchased a new stake in Methanex in the first quarter worth about $212,000. Institutional investors and hedge funds own 76.05% of the company’s stock.
Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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