Methode Electronics (NYSE:MEI – Get Rating) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Friday.
Separately, Robert W. Baird dropped their target price on shares of Methode Electronics from $46.00 to $42.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 15th.
Get Methode Electronics alerts:Methode Electronics Stock Down 1.6 %
MEI stock opened at $36.75 on Friday. The firm has a market cap of $1.34 billion, a PE ratio of 14.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.38 and a current ratio of 3.26. The firm's fifty day moving average is $40.05 and its 200 day moving average is $41.41. Methode Electronics has a one year low of $33.91 and a one year high of $49.94.
Methode Electronics (NYSE:MEI – Get Rating) last released its quarterly earnings results on Thursday, September 1st. The electronics maker reported $0.58 EPS for the quarter, beating the consensus estimate of $0.48 by $0.10. The company had revenue of $282.40 million for the quarter, compared to analyst estimates of $275.00 million. Methode Electronics had a net margin of 8.17% and a return on equity of 10.39%. On average, research analysts forecast that Methode Electronics will post 2.9 EPS for the current year.Insider Activity
In other news, COO Joseph Elias Khoury sold 8,000 shares of the firm's stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $38.55, for a total value of $308,400.00. Following the transaction, the chief operating officer now directly owns 396,420 shares of the company's stock, valued at $15,281,991. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.50% of the company's stock.
Hedge Funds Weigh In On Methode Electronics
A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Methode Electronics by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,045,253 shares of the electronics maker's stock worth $174,958,000 after purchasing an additional 28,137 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Methode Electronics by 1.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,239,149 shares of the electronics maker's stock worth $82,938,000 after purchasing an additional 28,628 shares during the period. FMR LLC increased its position in shares of Methode Electronics by 6.7% during the second quarter. FMR LLC now owns 2,092,505 shares of the electronics maker's stock valued at $77,507,000 after acquiring an additional 131,474 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Methode Electronics by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,026,836 shares of the electronics maker's stock valued at $87,660,000 after acquiring an additional 46,480 shares during the last quarter. Finally, State Street Corp increased its position in shares of Methode Electronics by 1.4% during the second quarter. State Street Corp now owns 1,364,306 shares of the electronics maker's stock valued at $50,534,000 after acquiring an additional 18,277 shares during the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.
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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