Methanex (NASDAQ:MEOH) Given New $41.00 Price Target at Barclays

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX had its price objective reduced by stock analysts at Barclays from $57.00 to $41.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the specialty chemicals company's stock. Barclays's target price would suggest a potential upside of 42.76% from the company's current price.

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $55.00 price target on shares of Methanex in a research note on Friday, January 31st. Scotiabank downgraded Methanex from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $66.00 to $53.00 in a research note on Monday, March 10th. UBS Group boosted their price target on Methanex from $53.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Raymond James lifted their price objective on shares of Methanex from $54.00 to $60.00 and gave the company an "outperform" rating in a research report on Tuesday, January 14th. Finally, Cibc World Mkts raised shares of Methanex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Methanex currently has a consensus rating of "Moderate Buy" and an average price target of $57.63.

Methanex Stock Performance

Shares of MEOH stock traded down $2.36 during trading hours on Tuesday, reaching $28.72. 1,902,380 shares of the company traded hands, compared to its average volume of 345,858. The firm has a 50-day moving average price of $42.47 and a 200 day moving average price of $43.96. The company has a market cap of $1.94 billion, a P/E ratio of 12.43 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00. Methanex has a 12-month low of $27.35 and a 12-month high of $56.43.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. As a group, sell-side analysts predict that Methanex will post 4.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in Methanex during the third quarter valued at approximately $40,000. Parkside Financial Bank & Trust increased its position in shares of Methanex by 39.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock valued at $101,000 after purchasing an additional 573 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Methanex during the 4th quarter valued at $106,000. State of Wyoming bought a new stake in Methanex in the fourth quarter worth $129,000. Finally, Blue Trust Inc. boosted its stake in Methanex by 15.0% during the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after buying an additional 371 shares during the period. 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.