Barclays Raises Methanex (NASDAQ:MEOH) Price Target to $57.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its price target raised by Barclays from $54.00 to $57.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s price target suggests a potential upside of 12.51% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. UBS Group increased their price objective on shares of Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a report on Friday. 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 note on Tuesday, January 14th. CIBC increased their target price on shares of Methanex from $59.00 to $63.00 and gave the company an “outperformer” rating in a research report on Monday, February 3rd. Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Methanex Price Performance

MEOH stock opened at $50.66 on Monday. Methanex has a 52-week low of $36.13 and a 52-week high of $56.43. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $3.41 billion, a PE ratio of 21.93 and a beta of 1.36. The stock’s 50 day moving average is $48.98 and its two-hundred day moving average is $44.97.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Analysts predict that Methanex will post 4.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Methanex

Several large investors have recently modified their holdings of MEOH. Geode Capital Management LLC raised its position in shares of Methanex by 1.2% during the third quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company’s stock worth $4,340,000 after purchasing an additional 1,203 shares during the period. Barclays PLC raised its holdings in Methanex by 64.9% during the 3rd quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company’s stock worth $845,000 after buying an additional 8,047 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Methanex during the third quarter valued at about $1,092,000. Blue Trust Inc. lifted 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 valued at $142,000 after buying an additional 371 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Methanex by 1,495.7% in the third quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company’s stock worth $5,739,000 after buying an additional 130,127 shares during the period. 73.49% of the stock is owned by institutional investors.

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.