UBS Group Issues Pessimistic Forecast for Methanex (NASDAQ:MEOH) Stock Price

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective dropped by investment analysts at UBS Group from $66.00 to $53.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. UBS Group’s price target indicates a potential upside of 93.07% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Raymond James raised their price objective on shares of Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. CIBC lowered their target price on shares of Methanex from $63.00 to $55.00 and set an “outperformer” rating on the stock in a report on Thursday. Scotiabank downgraded Methanex from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $66.00 to $53.00 in a research note on Monday, March 10th. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a report on Tuesday, April 1st. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.63.

Methanex Stock Down 4.4 %

MEOH stock traded down $1.27 during trading on Monday, reaching $27.45. 577,737 shares of the stock were exchanged, compared to its average volume of 346,489. The firm’s 50 day moving average is $42.47 and its 200 day moving average is $44.02. The firm has a market cap of $1.85 billion, a P/E ratio of 11.91 and a beta of 1.06. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. Methanex has a twelve month low of $25.61 and a twelve month high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. As a group, research analysts forecast that Methanex will post 4.32 EPS for the current year.

Institutional Trading of Methanex

Hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of Methanex by 35.7% in the fourth quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company’s stock worth $941,000 after purchasing an additional 4,952 shares in the last quarter. Geode Capital Management LLC grew its stake in Methanex by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company’s stock valued at $4,340,000 after buying an additional 1,203 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Methanex by 17.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company’s stock valued at $415,000 after acquiring an additional 1,245 shares during the period. Barclays PLC lifted its position in shares of Methanex by 64.9% during the third quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company’s stock worth $845,000 after acquiring an additional 8,047 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Methanex by 15.0% in the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock worth $142,000 after acquiring an additional 371 shares during the period. 73.49% of the stock is currently owned by 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.