Barrington analyst Gary Prestopino maintained a Hold rating on Methode Electronics (MEI – Research Report) today. The company’s shares closed yesterday at $43.69.
Prestopino covers the Technology sector, focusing on stocks such as Cars, Powerfleet, and Methode Electronics. According to TipRanks, Prestopino has an average return of 24.7% and a 52.64% success rate on recommended stocks.
Currently, the analyst consensus on Methode Electronics is a Hold with an average price target of $52.00.
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Based on Methode Electronics’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $315.9 million and a net profit of $27.6 million. In comparison, last year the company earned a revenue of $295.5 million and had a net profit of $27.5 million
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MEI in relation to earlier this year. Most recently, in December 2022, Donald Duda, the CEO of MEI sold 7,246.00 shares for a total of $341,793.82.
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Methode Electronics, Inc. engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers. The Interface segment provides a variety of copper and fiber-optic interface and interface solutions for the aerospace, appliance, commercial food service, construction, consumer, material handling, medical, military, mining, point-of-sale, and telecommunications markets. The Industrial segment manufactures external lighting solutions, industrial safety radio remote controls, braided flexible cables, current-carrying laminated busbars, and devices. The Medical segment refers to the medical device business. The company was founded by William Joseph McGinley in 1946 and is headquartered in Chicago, IL.
Read More on MEI:
- Methode Electronics cuts FY23 EPS guidance to $2.50-$2.60 from $2.70-$2.90
- Methode Electronics reports Q3 EPS 54c, consensus 70c
- Methode Electronics, Inc. Reports Fiscal Third Quarter 2023 Financial Results
- Methode Electronics offers to acquire Nordic Lights for EUR 6.30 per share
- Methode Electronics Announces a Cash Offer to Acquire Nordic Lights Group Corporation
