Methanex (NASDAQ:MEOH) (TSE:MX) was upgraded by equities research analysts at CIBC from a “neutral” rating to an “outperform” rating in a report released on Friday, The Fly reports.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada boosted their target price on shares of Methanex from $70.00 to $78.00 in a research report on Friday, July 27th. Monness Crespi & Hardt boosted their price target on shares of Methanex from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, September 25th. BidaskClub upgraded shares of Methanex from a “hold” rating to a “buy” rating in a research note on Saturday, September 15th. MED restated a “buy” rating on shares of Methanex in a research note on Monday, August 6th. Finally, ValuEngine upgraded shares of Methanex from a “hold” rating to a “buy” rating in a research note on Saturday, October 6th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $83.15.

Shares of Methanex stock traded up $2.20 during trading on Friday, reaching $65.89. 1,015,630 shares of the company traded hands, compared to its average volume of 517,205. The company has a quick ratio of 1.18, a current ratio of 1.70 and a debt-to-equity ratio of 0.82. Methanex has a 1-year low of $48.55 and a 1-year high of $83.23. The company has a market capitalization of $5.17 billion, a PE ratio of 13.99, a PEG ratio of 0.60 and a beta of 1.56.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.99 by ($0.07). Methanex had a net margin of 12.48% and a return on equity of 34.25%. The company had revenue of $1.04 billion for the quarter. Sell-side analysts expect that Methanex will post 7.34 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in MEOH. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in shares of Methanex by 8.7% in the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 997,100 shares of the specialty chemicals company’s stock worth $92,690,000 after acquiring an additional 79,700 shares in the last quarter. TD Asset Management Inc. grew its stake in shares of Methanex by 25.1% in the 2nd quarter. TD Asset Management Inc. now owns 737,671 shares of the specialty chemicals company’s stock worth $52,128,000 after acquiring an additional 147,874 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Methanex by 60.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 601,759 shares of the specialty chemicals company’s stock worth $42,525,000 after acquiring an additional 226,000 shares in the last quarter. Addenda Capital Inc. grew its stake in shares of Methanex by 78.0% in the 2nd quarter. Addenda Capital Inc. now owns 477,338 shares of the specialty chemicals company’s stock worth $31,014,000 after acquiring an additional 209,236 shares in the last quarter. Finally, CIBC World Markets Inc. grew its stake in shares of Methanex by 2.5% in the 2nd quarter. CIBC World Markets Inc. now owns 477,053 shares of the specialty chemicals company’s stock worth $33,728,000 after acquiring an additional 11,623 shares in the last quarter. Institutional investors and hedge funds own 76.05% of the company’s stock.

Methanex Company Profile

Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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