Insider Selling: Methanex (TSE:MX) Insider Sells 2,000 Shares of Stock
by Tristan Rich · The Markets DailyMethanex Co. (TSE:MX – Get Free Report) (NASDAQ:MEOH) insider Mark Allard sold 2,000 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of C$86.00, for a total transaction of C$172,000.00. Following the completion of the transaction, the insider owned 16,604 shares in the company, valued at C$1,427,944. This represents a 10.75% decrease in their ownership of the stock.
Methanex Trading Up 9.1%
MX traded up C$7.50 during trading on Friday, reaching C$89.87. 368,834 shares of the company’s stock were exchanged, compared to its average volume of 337,603. The company’s fifty day moving average price is C$69.06 and its 200-day moving average price is C$58.88. The firm has a market capitalization of C$6.95 billion, a PE ratio of 30.16, a P/E/G ratio of 0.44 and a beta of 1.06. Methanex Co. has a fifty-two week low of C$36.10 and a fifty-two week high of C$90.21. The company has a debt-to-equity ratio of 143.59, a quick ratio of 1.59 and a current ratio of 2.06.
Methanex (TSE:MX – Get Free Report) (NASDAQ:MEOH) last posted its quarterly earnings results on Thursday, March 5th. The company reported C($0.19) earnings per share for the quarter. Methanex had a net margin of 2.19% and a return on equity of 3.18%. The company had revenue of C$1.28 billion during the quarter. As a group, equities analysts forecast that Methanex Co. will post 5.9482927 EPS for the current year.
Wall Street Analyst Weigh In
A number of analysts have recently commented on MX shares. Scotiabank upped their price target on Methanex from C$48.00 to C$60.00 in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce downgraded shares of Methanex from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Raymond James Financial lowered shares of Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Methanex currently has an average rating of “Moderate Buy” and a consensus target price of C$50.00.
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Methanex Company Profile
Methanex Corp manufactures and sells methanol. Methanex’s customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines.