Methode Electronics (NYSE:MEI) Stock Rating Upgraded by Zacks Research

Methode Electronics (NYSE:MEI) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Sunday. Barrington Research raised Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Monday, June 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Methode Electronics in a report on Friday, July 17th. Robert W. Baird lifted their price objective on shares of Methode Electronics from $8.50 to $16.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Finally, Sidoti reissued a “neutral” rating and set a $17.00 price target on shares of Methode Electronics in a research report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.33.

Methode Electronics Price Performance

MEI stock opened at $17.26 on Tuesday. The stock has a 50-day moving average price of $14.47 and a two-hundred day moving average price of $10.22. Methode Electronics has a 1 year low of $4.88 and a 1 year high of $20.38. The stock has a market cap of $612.14 million, a PE ratio of -17.09 and a beta of 1.50. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.48.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Wednesday, June 24th. The electronics maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The firm had revenue of $298.10 million for the quarter, compared to analyst estimates of $238.46 million. Methode Electronics had a negative return on equity of 5.59% and a negative net margin of 3.50%. Equities analysts forecast that Methode Electronics will post -0.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Methode Electronics

Institutional investors have recently modified their holdings of the business. Strs Ohio lifted its holdings in Methode Electronics by 10.0% in the fourth quarter. Strs Ohio now owns 26,300 shares of the electronics maker’s stock valued at $175,000 after buying an additional 2,400 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Methode Electronics by 1,027.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 2,815 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Methode Electronics by 21.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,781 shares of the electronics maker’s stock valued at $145,000 after purchasing an additional 3,778 shares during the period. Barclays PLC grew its stake in Methode Electronics by 4.5% during the fourth quarter. Barclays PLC now owns 90,325 shares of the electronics maker’s stock worth $600,000 after purchasing an additional 3,906 shares during the period. Finally, Sei Investments Co. increased its holdings in Methode Electronics by 9.3% in the second quarter. Sei Investments Co. now owns 54,040 shares of the electronics maker’s stock worth $514,000 after purchasing an additional 4,600 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Methode Electronics Company Profile

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.