UBS Group Boosts Methanex (NASDAQ:MEOH) Price Target to $62.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective upped by analysts at UBS Group from $59.00 to $62.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. UBS Group’s price objective suggests a potential upside of 25.76% from the company’s current price.

Several other brokerages have also issued reports on MEOH. Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 price target on shares of Methanex in a research note on Wednesday, April 3rd. Raymond James lowered their price target on shares of Methanex from $67.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Barclays lifted their price target on shares of Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. TheStreet upgraded shares of Methanex from a “c” rating to a “b-” rating in a research note on Thursday, January 11th. Finally, CIBC lifted their price objective on shares of Methanex from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.75.

Methanex Stock Up 3.3 %

Shares of NASDAQ:MEOH traded up $1.59 during midday trading on Thursday, reaching $49.30. 161,538 shares of the company were exchanged, compared to its average volume of 292,699. Methanex has a fifty-two week low of $38.18 and a fifty-two week high of $51.42. The company has a quick ratio of 0.81, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. The stock has a fifty day simple moving average of $45.51 and a two-hundred day simple moving average of $44.69. The firm has a market cap of $3.32 billion, a PE ratio of 20.11 and a beta of 1.50.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.24. Methanex had a net margin of 4.67% and a return on equity of 6.71%. The business had revenue of $922.00 million for the quarter, compared to analyst estimates of $901.21 million. As a group, sell-side analysts forecast that Methanex will post 2.35 earnings per share for the current year.

Institutional Trading of Methanex

Several hedge funds and other institutional investors have recently modified their holdings of MEOH. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Methanex by 42.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,612 shares of the specialty chemicals company’s stock worth $616,000 after buying an additional 4,031 shares during the period. Mackenzie Financial Corp boosted its holdings in Methanex by 20.0% in the 3rd quarter. Mackenzie Financial Corp now owns 739,849 shares of the specialty chemicals company’s stock valued at $31,950,000 after purchasing an additional 123,296 shares during the period. Advisor Partners II LLC bought a new stake in Methanex in the 3rd quarter valued at about $209,000. Westbourne Investment Advisors Inc. boosted its holdings in Methanex by 0.5% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 103,751 shares of the specialty chemicals company’s stock valued at $4,674,000 after purchasing an additional 553 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Methanex in the 3rd quarter valued at about $364,000. Institutional investors 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.