Methanex Co. (NASDAQ:MEOH) Receives $55.38 Consensus Price Target from Brokerages

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $55.38.

MEOH has been the topic of a number of analyst reports. Raymond James decreased their price objective on Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. Barclays downgraded shares of 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 boosted their price objective on shares of Methanex from $51.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research note on Tuesday, September 3rd. Finally, Scotiabank boosted their price target on shares of Methanex from $58.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 10th.

Hedge Funds Weigh In On Methanex

Several institutional investors have recently modified their holdings of MEOH. Headlands Technologies LLC boosted its stake in Methanex by 346.5% in the first quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 700 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of Methanex in the 1st quarter valued at $45,000. Blue Trust Inc. grew its holdings in shares of Methanex by 52,500.0% during the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock valued at $70,000 after purchasing an additional 1,575 shares during the last quarter. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 1,626 shares during the period. Finally, Value Partners Investments Inc. bought a new stake in Methanex in the first quarter worth $201,000. 73.49% of the stock is currently owned by institutional investors.

Methanex Stock Down 1.0 %

Methanex stock opened at $38.97 on Thursday. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 18.13 and a beta of 1.36. The firm has a 50 day simple moving average of $41.16 and a 200 day simple moving average of $46.06. Methanex has a 1-year low of $36.13 and a 1-year high of $56.43. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.80.

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.