UBS Group Boosts Methanex (NASDAQ:MEOH) Price Target to $62.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its price target raised by research analysts at UBS Group from $59.00 to $62.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. UBS Group’s target price suggests a potential upside of 25.76% from the company’s previous close.

Several other research analysts also recently commented on MEOH. Barclays lifted their price target on shares of Methanex from $53.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Raymond James decreased their target price on shares of Methanex from $67.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. TheStreet raised shares of Methanex from a “c” rating to a “b-” rating in a research note on Thursday, January 11th. CIBC lifted their target price on shares of Methanex from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 target price on shares of Methanex in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.75.

Methanex Price Performance

Shares of MEOH stock traded up $1.59 during trading hours on Thursday, hitting $49.30. 161,538 shares of the company’s stock were exchanged, compared to its average volume of 292,699. The company has a market capitalization of $3.32 billion, a PE ratio of 20.11 and a beta of 1.50. Methanex has a 12-month low of $38.18 and a 12-month high of $51.42. The business’s 50 day simple moving average is $45.51 and its 200-day simple moving average is $44.69. The company has a current ratio of 1.14, a quick ratio of 0.81 and a debt-to-equity ratio of 0.84.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.28 by $0.24. The firm had revenue of $922.00 million for the quarter, compared to the consensus estimate of $901.21 million. Methanex had a net margin of 4.67% and a return on equity of 6.71%. On average, equities research analysts anticipate that Methanex will post 2.35 earnings per share for the current year.

Institutional Trading of Methanex

Hedge funds and other institutional investors have recently modified their holdings of the business. U S Global Investors Inc. purchased a new stake in shares of Methanex in the 1st quarter worth about $178,000. Citigroup Inc. grew its position in shares of Methanex by 40.2% in the 3rd quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company’s stock worth $183,000 after buying an additional 1,158 shares during the period. Ausbil Investment Management Ltd purchased a new stake in shares of Methanex in the 4th quarter worth about $195,000. Advisor Partners II LLC purchased a new stake in Methanex during the 3rd quarter valued at about $209,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Methanex during the 3rd quarter valued at about $216,000. 73.49% of the stock is owned by hedge funds and other 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.