ValuEngine lowered shares of Methode Electronics (NYSE:MEI) from a buy rating to a hold rating in a research report sent to investors on Thursday.
A number of other brokerages also recently issued reports on MEI. B. Riley restated a buy rating and set a $49.00 price objective on shares of Methode Electronics in a research report on Tuesday, December 5th. Robert W. Baird restated a buy rating and set a $47.00 price objective on shares of Methode Electronics in a research report on Sunday, September 24th. Zacks Investment Research downgraded Methode Electronics from a buy rating to a hold rating in a research report on Wednesday, November 1st. BidaskClub upgraded Methode Electronics from a strong sell rating to a sell rating in a research report on Saturday, August 26th. Finally, FBR & Co restated a buy rating on shares of Methode Electronics in a research report on Thursday, August 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $49.50.
Shares of Methode Electronics (NYSE:MEI) traded up $0.80 during mid-day trading on Thursday, reaching $42.20. The company’s stock had a trading volume of 680,076 shares, compared to its average volume of 191,636. Methode Electronics has a fifty-two week low of $36.05 and a fifty-two week high of $48.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.81 and a current ratio of 3.74. The stock has a market capitalization of $1,553.38, a P/E ratio of 16.48, a PEG ratio of 1.09 and a beta of 0.76.
Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, December 7th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.64. Methode Electronics had a return on equity of 17.07% and a net margin of 10.81%. The business had revenue of $230.10 million for the quarter, compared to the consensus estimate of $218.03 million. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. equities research analysts expect that Methode Electronics will post 2.6 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. California Public Employees Retirement System raised its holdings in shares of Methode Electronics by 6.2% in the third quarter. California Public Employees Retirement System now owns 83,193 shares of the electronics maker’s stock worth $3,523,000 after buying an additional 4,893 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Methode Electronics in the third quarter worth approximately $201,000. Vident Investment Advisory LLC raised its holdings in shares of Methode Electronics by 14.0% in the third quarter. Vident Investment Advisory LLC now owns 55,258 shares of the electronics maker’s stock worth $2,340,000 after buying an additional 6,782 shares during the period. Royce & Associates LP raised its holdings in shares of Methode Electronics by 1.4% in the third quarter. Royce & Associates LP now owns 1,230,099 shares of the electronics maker’s stock worth $52,095,000 after buying an additional 17,443 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of Methode Electronics by 6.5% in the third quarter. Stifel Financial Corp now owns 249,754 shares of the electronics maker’s stock worth $10,616,000 after buying an additional 15,293 shares during the period. Hedge funds and other institutional investors own 89.95% of the company’s stock.
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Methode Electronics Company Profile
Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.
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