Methanex (NASDAQ:MEOH) Stock Price Expected to Rise, Piper Sandler Analyst Says

Methanex (NASDAQ:MEOHGet Free Report) (TSE:MX) had its price target hoisted by investment analysts at Piper Sandler from $68.00 to $71.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. Piper Sandler’s target price suggests a potential upside of 58.84% from the company’s previous close.

Several other equities research analysts have also recently commented on MEOH. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price target on shares of Methanex in a research report on Tuesday, September 3rd. Barclays increased their price target on Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. UBS Group lowered their price target on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. StockNews.com upgraded Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Raymond James decreased their target price on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.88.

Get Our Latest Stock Report on MEOH

Methanex Stock Up 1.4 %

Shares of NASDAQ MEOH traded up $0.63 during midday trading on Tuesday, reaching $44.70. The company’s stock had a trading volume of 147,214 shares, compared to its average volume of 300,569. The stock has a 50 day simple moving average of $40.87 and a 200-day simple moving average of $45.73. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 20.89 and a beta of 1.36. Methanex has a fifty-two week low of $36.13 and a fifty-two week high of $56.43.

Institutional Investors Weigh In On Methanex

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in shares of Methanex by 52,500.0% in the second 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 grew its stake 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 valued at $93,000 after buying an additional 1,626 shares during the last quarter. Squarepoint Ops LLC bought a new position in Methanex in the 2nd quarter valued at about $201,000. Value Partners Investments Inc. raised its holdings 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 valued at $233,000 after acquiring an additional 532 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in Methanex during the first quarter worth approximately $239,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

About Methanex

(Get Free Report)

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.

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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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