Methanex (NASDAQ:MEOH) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a hold rating to a buy rating in a research note published on Friday morning.

Other equities analysts have also issued research reports about the company. UBS Group lowered their price target on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Barclays lowered Methanex from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $56.00 to $44.00 in a report on Tuesday, September 10th. Piper Sandler raised their price target on Methanex from $51.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price target on shares of Methanex in a report on Tuesday, September 3rd. Finally, Raymond James reduced their price objective on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Methanex currently has an average rating of “Moderate Buy” and an average price target of $55.50.

Methanex Stock Performance

Shares of MEOH stock opened at $42.40 on Friday. The stock’s 50-day moving average is $40.99 and its two-hundred day moving average is $45.97. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 19.81 and a beta of 1.36. Methanex has a 1 year low of $36.13 and a 1 year high of $56.43. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.87 and a current ratio of 1.34.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MEOH. Headlands Technologies LLC increased its stake in shares of 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 purchasing an additional 700 shares in the last quarter. Blue Trust Inc. grew its stake in Methanex by 52,500.0% in the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock worth $70,000 after acquiring an additional 1,575 shares during the period. EverSource Wealth Advisors LLC grew its stake in Methanex by 572.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock worth $93,000 after acquiring an additional 1,626 shares during the period. Squarepoint Ops LLC purchased a new stake in Methanex in the 2nd quarter worth approximately $201,000. Finally, Value Partners Investments Inc. grew its stake in Methanex by 10.4% in the 3rd quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock worth $233,000 after acquiring an additional 532 shares during the period. 73.49% of the stock is owned by hedge funds and other institutional investors.

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.