Credit Suisse Group Increases Mercer International (NASDAQ:MERC) Price Target to $18.50

Mercer International (NASDAQ:MERCGet Rating) (TSE:MRI.U) had its price objective upped by stock analysts at Credit Suisse Group from $16.00 to $18.50 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 13.01% from the company’s current price.

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

Shares of MERC opened at $16.37 on Thursday. Mercer International has a fifty-two week low of $9.51 and a fifty-two week high of $18.14. The business has a 50-day moving average of $13.94 and a 200 day moving average of $12.26. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.50 and a current ratio of 3.76. The firm has a market cap of $1.08 billion, a P/E ratio of 6.37 and a beta of 1.63.

Mercer International (NASDAQ:MERCGet Rating) (TSE:MRI.U) last released its earnings results on Thursday, February 17th. The basic materials company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.16. The company 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 firm earned ($0.20) EPS. As a group, research analysts predict that Mercer International will post 2.75 earnings per share for the current fiscal year.

In other news, major shareholder Peter R. Kellogg purchased 7,700 shares of the stock in a transaction on Monday, March 7th. The stock was bought at an average price of $12.76 per share, with a total value of $98,252.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its stake in Mercer International by 3.1% during the 4th quarter. California State Teachers Retirement System now owns 36,279 shares of the basic materials company’s stock worth $435,000 after buying an additional 1,104 shares in the last quarter. Rhumbline Advisers increased its position in shares of Mercer International by 5.6% during the fourth quarter. Rhumbline Advisers now owns 59,296 shares of the basic materials company’s stock worth $711,000 after acquiring an additional 3,161 shares during the period. Merrion Investment Management Co LLC increased its holdings in Mercer International by 1.4% in the fourth quarter. Merrion Investment Management Co LLC now owns 429,109 shares of the basic materials company’s stock valued at $5,145,000 after buying an additional 5,800 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Mercer International by 36.6% during the fourth quarter. SG Americas Securities LLC now owns 33,683 shares of the basic materials company’s stock worth $404,000 after purchasing an additional 9,023 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 10,931 shares during the last quarter. Institutional investors own 74.24% of the company’s stock.

Mercer International Company Profile (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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