Mercer International (NASDAQ:MERC) (TSE:MRI.U) received a $10.00 price target from investment analysts at Raymond James in a report released on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Raymond James’ price objective would suggest a potential upside of 34.23% from the company’s current price.
MERC has been the subject of several other research reports. TD Securities boosted their price target on Mercer International from $8.50 to $10.00 and gave the company a “hold” rating in a report on Monday, May 4th. Zacks Investment Research lowered shares of Mercer International from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Royal Bank of Canada downgraded shares of Mercer International from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $11.00 to $9.00 in a report on Friday, June 5th. BidaskClub downgraded shares of Mercer International from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 25th. Finally, Credit Suisse Group raised shares of Mercer International from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $10.00 to $12.00 in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $10.60.
MERC stock opened at $7.45 on Friday. The company has a debt-to-equity ratio of 2.54, a current ratio of 4.26 and a quick ratio of 2.80. The business’s 50-day moving average is $8.08 and its two-hundred day moving average is $8.91. Mercer International has a fifty-two week low of $6.42 and a fifty-two week high of $13.62.
Large investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its stake in Mercer International by 3.3% during the first quarter. Rhumbline Advisers now owns 73,542 shares of the basic materials company’s stock valued at $532,000 after buying an additional 2,378 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Mercer International by 10.6% during the 1st quarter. Bank of New York Mellon Corp now owns 432,206 shares of the basic materials company’s stock valued at $3,129,000 after acquiring an additional 41,448 shares during the last quarter. Comerica Bank boosted its position in shares of Mercer International by 3.2% during the 1st quarter. Comerica Bank now owns 40,722 shares of the basic materials company’s stock valued at $342,000 after acquiring an additional 1,273 shares during the last quarter. Finally, Matarin Capital Management LLC purchased a new position in shares of Mercer International in the first quarter valued at $1,471,000. Institutional investors own 77.05% of the company’s stock.
About Mercer International
Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood Kraft (NBSK) pulp in the United States, Europe, Asia, and internationally. The company operates in two segments, Pulp and Wood Products. It produces NBSK pulp primarily from wood chips and pulp logs; carbon neutral or green energy using carbon-neutral bio-fuels, such as black liquor and wood waste; and tall oil for use as a chemical additive and green energy source.
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