Methode Electronics’ (MEI) “Neutral” Rating Reiterated at Sidoti

Methode Electronics (NYSE:MEI)‘s stock had its “neutral” rating reiterated by Sidoti in a report released on Friday,Benzinga reports. They presently have a $17.00 price target on the electronics maker’s stock. Sidoti’s price objective suggests a potential downside of 6.36% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Methode Electronics in a report on Tuesday, April 21st. Robert W. Baird lifted their price objective on Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $16.50.

Methode Electronics Stock Up 38.7%

NYSE MEI opened at $18.15 on Friday. The business has a fifty day moving average price of $10.68 and a two-hundred day moving average price of $8.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.41 and a quick ratio of 1.55. Methode Electronics has a fifty-two week low of $4.88 and a fifty-two week high of $18.47. The stock has a market capitalization of $643.20 million, a PE ratio of -17.97 and a beta of 1.59.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). Methode Electronics had a negative net margin of 3.50% and a negative return on equity of 5.58%. The firm had revenue of $298.10 million during the quarter, compared to the consensus estimate of $238.46 million. Equities analysts expect that Methode Electronics will post -0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Methode Electronics

A number of institutional investors and hedge funds have recently bought and sold shares of MEI. EverSource Wealth Advisors LLC lifted its position in shares of Methode Electronics by 1,027.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 2,815 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Methode Electronics during the 2nd quarter worth approximately $107,000. Mackenzie Financial Corp bought a new position in shares of Methode Electronics during the 3rd quarter worth approximately $103,000. Inscription Capital LLC purchased a new position in shares of Methode Electronics in the 4th quarter worth approximately $112,000. Finally, State of Wyoming purchased a new position in shares of Methode Electronics in the 1st quarter worth approximately $93,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

About Methode Electronics

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.