Mercer International (NASDAQ:MERC) PT Raised to $18.50 at Credit Suisse Group

Mercer International (NASDAQ:MERCGet Rating) (TSE:MRI.U) had its price objective hoisted by equities researchers at Credit Suisse Group from $16.00 to $18.50 in a research note issued to investors on Thursday, Marketbeat.com reports. The firm presently has a “neutral” rating on the basic materials company’s stock. Credit Suisse Group’s target price points to a potential upside of 16.28% from the stock’s previous close.

Other research analysts have also issued reports about the company. StockNews.com initiated coverage on Mercer International in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Raymond James upped their target price on Mercer International from $15.00 to $16.50 and gave the company an “outperform” rating in a research note on Friday, February 18th. Zacks Investment Research upgraded Mercer International from a “strong sell” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Friday, February 4th. Finally, Royal Bank of Canada increased their price objective on Mercer International from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.50.

MERC opened at $15.91 on Thursday. The business has a 50 day moving average of $14.02 and a 200-day moving average of $12.30. The company has a current ratio of 3.76, a quick ratio of 2.50 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 6.19 and a beta of 1.63. Mercer International has a 1-year low of $9.51 and a 1-year high of $18.14.

Mercer International (NASDAQ:MERCGet Rating) (TSE:MRI.U) last issued its earnings results on Thursday, February 17th. The basic materials company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. The business had revenue of $518.96 million during the quarter. Mercer International had a return on equity of 31.28% and a net margin of 9.48%. During the same quarter in the previous year, the company posted ($0.20) earnings per share. Equities analysts predict that Mercer International will post 2.75 EPS for the current year.

In other news, major shareholder Peter R. Kellogg purchased 7,700 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The shares were acquired at an average price of $12.76 per share, for a total transaction of $98,252.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Merrion Investment Management Co LLC boosted its holdings in Mercer International by 1.4% during the fourth quarter. Merrion Investment Management Co LLC now owns 429,109 shares of the basic materials company’s stock worth $5,145,000 after buying an additional 5,800 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Mercer International by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 409,548 shares of the basic materials company’s stock worth $4,910,000 after buying an additional 10,931 shares during the last quarter. Marshall Wace LLP bought a new position in Mercer International during the fourth quarter worth about $1,794,000. BNP Paribas Arbitrage SA boosted its holdings in Mercer International by 284.6% during the fourth quarter. BNP Paribas Arbitrage SA now owns 124,704 shares of the basic materials company’s stock worth $1,495,000 after buying an additional 92,282 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in Mercer International by 87.7% during the fourth quarter. Parametric Portfolio Associates LLC now owns 112,902 shares of the basic materials company’s stock worth $1,354,000 after buying an additional 52,741 shares during the last quarter. Institutional investors and hedge funds own 74.24% of the company’s stock.

About Mercer International (Get Rating)

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) pulp in Europe, the United States, Asia, and internationally. The company operates through two segments, Pulp and Wood Products. It also generates and sells green energy produced from biomass cogeneration power plant to third party utilities.

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