Methanex (MEOH) Stock Rating Lowered by BidaskClub
Methanex (NASDAQ:MEOH) (TSE:MX) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Monday.
MEOH has been the subject of a number of other research reports. Scotiabank set a $53.50 price target on shares of Methanex and gave the company a “sector perform” rating in a research note on Thursday, October 26th. TD Securities increased their price target on shares of Methanex to $71.00 and gave the company a “buy” rating in a research note on Monday, September 18th. Cowen reiterated an “outperform” rating and issued a $58.00 price target (up previously from $55.00) on shares of Methanex in a research note on Monday, October 9th. Raymond James Financial cut shares of Methanex from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a research note on Tuesday, October 31st. Finally, UBS Group increased their price target on shares of Methanex from $42.00 to $44.00 and gave the company a “sell” rating in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $57.20.
Shares of Methanex (NASDAQ MEOH) opened at $61.25 on Monday. The company has a market cap of $5,141.08, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 0.89 and a beta of 1.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.17. Methanex has a 12 month low of $39.47 and a 12 month high of $64.40.
Several institutional investors and hedge funds have recently modified their holdings of the company. ETRADE Capital Management LLC bought a new position in Methanex during the third quarter worth about $241,000. AHL Partners LLP bought a new position in Methanex during the second quarter worth about $300,000. PNC Financial Services Group Inc. increased its position in Methanex by 3.9% during the second quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock worth $305,000 after acquiring an additional 259 shares during the period. Quantitative Investment Management LLC bought a new position in Methanex during the second quarter worth about $321,000. Finally, Trexquant Investment LP bought a new position in Methanex during the third quarter worth about $388,000. 83.07% of the stock is currently owned by institutional investors.
Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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