Methode Electronics, Inc. (NYSE:MEI) Given Average Rating of “Hold” by Brokerages

Shares of Methode Electronics, Inc. (NYSE:MEI) have received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $22.00.

MEI has been the topic of a number of recent analyst reports. Craig Hallum assumed coverage on Methode Electronics in a research note on Tuesday, August 25th. They set a “buy” rating and a $30.00 price target on the stock. Sidoti reaffirmed a “neutral” rating and issued a $17.00 price objective on shares of Methode Electronics in a research report on Friday, June 26th. Wall Street Zen lowered Methode Electronics from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Robert W. Baird increased their target price on Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a research note on Friday, July 17th.

Institutional Investors Weigh In On Methode Electronics

Several hedge funds have recently modified their holdings of MEI. BlackRock Inc. acquired a new position in shares of Methode Electronics in the 2nd quarter valued at $65,727,000. AIGH Capital Management LLC acquired a new stake in shares of Methode Electronics during the 2nd quarter worth $31,839,000. Empowered Funds LLC purchased a new position in shares of Methode Electronics in the 2nd quarter worth $11,882,000. 4D Advisors LLC purchased a new position in shares of Methode Electronics in the 4th quarter worth $3,320,000. Finally, UBS Group AG boosted its holdings in Methode Electronics by 887.1% in the third quarter. UBS Group AG now owns 476,974 shares of the electronics maker’s stock valued at $3,601,000 after acquiring an additional 428,654 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Methode Electronics Stock Performance

NYSE:MEI opened at $14.58 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.41 and a quick ratio of 1.65. The firm has a market cap of $519.81 million, a PE ratio of -14.02 and a beta of 1.54. The firm has a 50 day simple moving average of $15.78 and a 200-day simple moving average of $11.67. Methode Electronics has a 1-year low of $4.88 and a 1-year high of $20.38.

Methode Electronics (NYSE:MEI) last announced its earnings results on Wednesday, September 2nd. The electronics maker reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The firm had revenue of $265.40 million for the quarter, compared to analyst estimates of $238.31 million. Methode Electronics had a negative net margin of 3.52% and a negative return on equity of 5.63%. On average, equities analysts expect that Methode Electronics will post -0.81 EPS for the current year.

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.