Methode Electronics (NYSE:MEI – Get Rating) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Friday.
Separately, Robert W. Baird reduced their price objective on shares of Methode Electronics from $46.00 to $42.00 and set a "neutral" rating for the company in a research note on Wednesday, June 15th.
Get Methode Electronics alerts:Methode Electronics Stock Performance
MEI stock opened at $37.35 on Friday. The company has a quick ratio of 2.38, a current ratio of 3.26 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 14.88 and a beta of 1.14. Methode Electronics has a 12 month low of $33.91 and a 12 month high of $49.94. The firm has a 50 day moving average of $40.02 and a two-hundred day moving average of $41.46.
Methode Electronics (NYSE:MEI – Get Rating) last posted its earnings results on Thursday, June 23rd. The electronics maker reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $288.70 million during the quarter, compared to the consensus estimate of $289.10 million. Methode Electronics had a net margin of 8.17% and a return on equity of 10.39%. As a group, equities analysts anticipate that Methode Electronics will post 2.9 EPS for the current fiscal year.Insider Activity at Methode Electronics
In related news, COO Joseph Elias Khoury sold 8,000 shares of the company's stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $38.55, for a total transaction of $308,400.00. Following the completion of the transaction, the chief operating officer now directly owns 396,420 shares in the company, valued at approximately $15,281,991. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.50% of the company's stock.
Hedge Funds Weigh In On Methode Electronics
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Methode Electronics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,045,253 shares of the electronics maker's stock valued at $174,958,000 after purchasing an additional 28,137 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Methode Electronics by 1.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,239,149 shares of the electronics maker's stock valued at $82,938,000 after buying an additional 28,628 shares during the period. FMR LLC increased its holdings in Methode Electronics by 6.7% in the 2nd quarter. FMR LLC now owns 2,092,505 shares of the electronics maker's stock valued at $77,507,000 after buying an additional 131,474 shares during the period. Dimensional Fund Advisors LP increased its holdings in Methode Electronics by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,026,836 shares of the electronics maker's stock valued at $87,660,000 after buying an additional 46,480 shares during the period. Finally, State Street Corp increased its holdings in Methode Electronics by 1.4% in the 2nd quarter. State Street Corp now owns 1,364,306 shares of the electronics maker's stock valued at $50,534,000 after buying an additional 18,277 shares during the period. 94.03% of the stock is currently owned by institutional investors and hedge funds.
Methode Electronics Company Profile
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Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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