Methanex (NASDAQ:MEOH) Given New $54.00 Price Target at Barclays

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective boosted by research analysts at Barclays from $46.00 to $54.00 in a research report issued 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 6.34% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Raymond James boosted their price target on shares of Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. UBS Group lowered their price objective on shares of Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Piper Sandler increased their price target on shares of Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Methanex currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Methanex Stock Performance

MEOH opened at $50.78 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.01 and a current ratio of 1.34. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 23.73 and a beta of 1.37. The company has a fifty day moving average of $47.88 and a 200 day moving average of $44.93. Methanex has a fifty-two week low of $36.13 and a fifty-two week high of $56.43.

Hedge Funds Weigh In On Methanex

Large investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new stake in Methanex in the third quarter worth $40,000. Blue Trust Inc. increased its stake in Methanex by 56.8% in the 3rd quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 896 shares during the period. Squarepoint Ops LLC bought a new stake in Methanex during the 2nd quarter valued at about $201,000. Legacy Wealth Asset Management LLC purchased a new stake in Methanex in the 4th quarter valued at about $220,000. 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 in the last quarter. Hedge funds and other 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.