Methanex (NASDAQ:MEOH) Price Target Raised to $46.00 at Barclays

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX had its target price boosted by analysts at Barclays from $44.00 to $46.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the specialty chemicals company's stock. Barclays's price objective indicates a potential upside of 8.49% from the stock's previous close.

Several other equities analysts have also issued reports on MEOH. UBS Group decreased their price target on Methanex from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday. StockNews.com upgraded Methanex from a "hold" rating to a "buy" rating in a research note on Friday. 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 Tuesday, September 3rd. Raymond James decreased their price target on Methanex from $62.00 to $54.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 11th. Finally, Piper Sandler lifted their price target on Methanex from $51.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Methanex presently has an average rating of "Moderate Buy" and a consensus target price of $55.50.

Methanex Price Performance

Methanex stock traded up $0.21 during mid-day trading on Monday, reaching $42.40. 518,348 shares of the company were exchanged, compared to its average volume of 302,019. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43. The company has a fifty day simple moving average of $40.99 and a 200-day simple moving average of $45.97. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 0.87. The firm has a market cap of $2.86 billion, a PE ratio of 20.04 and a beta of 1.36.

Institutional Investors Weigh In On Methanex

Several hedge funds have recently modified their holdings of the company. Headlands Technologies LLC lifted its holdings in Methanex by 346.5% during the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company's stock worth $40,000 after buying an additional 700 shares during the period. Blue Trust Inc. lifted its holdings in Methanex by 52,500.0% during the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company's stock worth $70,000 after buying an additional 1,575 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Methanex by 572.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company's stock worth $93,000 after buying an additional 1,626 shares during the period. Squarepoint Ops LLC acquired a new position in Methanex during the 2nd quarter worth about $201,000. Finally, Value Partners Investments Inc. lifted its holdings in Methanex by 13.3% during the 2nd quarter. Value Partners Investments Inc. now owns 5,110 shares of the specialty chemicals company's stock worth $247,000 after buying an additional 599 shares during the period. Institutional investors and hedge funds own 73.49% of the company's stock.

About Methanex

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.