Methode Electronics (NYSE:MEI) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
Several other equities analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a report on Saturday, February 24th. TheStreet lowered shares of Methode Electronics from a “b” rating to a “c+” rating in a report on Friday, March 2nd. Finally, Robert W. Baird restated an “outperform” rating and issued a $51.00 target price (up previously from $48.00) on shares of Methode Electronics in a report on Friday, March 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Methode Electronics currently has an average rating of “Buy” and an average target price of $49.00.
Methode Electronics opened at $42.45 on Thursday, Marketbeat.com reports. The firm has a market capitalization of $1.57 billion, a P/E ratio of 15.18, a PEG ratio of 0.88 and a beta of 0.86. The company has a current ratio of 4.03, a quick ratio of 3.47 and a debt-to-equity ratio of 0.19. Methode Electronics has a 12-month low of $36.05 and a 12-month high of $48.44.
Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, March 1st. The electronics maker reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.21. The business had revenue of $228.00 million for the quarter, compared to analyst estimates of $219.90 million. Methode Electronics had a net margin of 4.95% and a return on equity of 17.84%. Methode Electronics’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. equities analysts anticipate that Methode Electronics will post 2.8 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in MEI. Westwood Holdings Group Inc. raised its holdings in shares of Methode Electronics by 227.3% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,364,275 shares of the electronics maker’s stock valued at $54,707,000 after purchasing an additional 947,502 shares during the period. Ariel Investments LLC acquired a new position in shares of Methode Electronics during the fourth quarter valued at about $14,580,000. Heartland Advisors Inc. raised its holdings in shares of Methode Electronics by 205.2% during the fourth quarter. Heartland Advisors Inc. now owns 352,735 shares of the electronics maker’s stock valued at $14,145,000 after purchasing an additional 237,170 shares during the period. Wedge Capital Management L L P NC raised its holdings in shares of Methode Electronics by 41.6% during the first quarter. Wedge Capital Management L L P NC now owns 637,419 shares of the electronics maker’s stock valued at $24,923,000 after purchasing an additional 187,245 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Methode Electronics by 2.9% during the fourth quarter. BlackRock Inc. now owns 4,570,332 shares of the electronics maker’s stock valued at $183,270,000 after purchasing an additional 129,746 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.
About Methode Electronics
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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