Methode Electronics (NYSE:MEI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Methode Electronics (NYSE:MEI) from a hold rating to a buy rating in a research note released on Saturday.

A number of other analysts have also recently commented on MEI. Robert W. Baird upped their price target on shares of Methode Electronics from $8.50 to $16.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Zacks Research lowered shares of Methode Electronics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Sidoti reiterated a “neutral” rating and issued a $17.00 price objective on shares of Methode Electronics in a research note on Friday, June 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a report on Friday, July 17th. Finally, Barrington Research upgraded Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research report on Monday, June 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Methode Electronics presently has an average rating of “Reduce” and an average price target of $19.33.

Methode Electronics Trading Up 0.1%

Shares of Methode Electronics stock opened at $15.33 on Friday. Methode Electronics has a 52-week low of $4.88 and a 52-week high of $20.38. The stock’s 50-day simple moving average is $13.99 and its 200 day simple moving average is $9.85. The stock has a market capitalization of $543.65 million, a P/E ratio of -15.18 and a beta of 1.47. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.66 and a current ratio of 2.37.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Wednesday, June 24th. The electronics maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The business had revenue of $298.10 million for the quarter, compared to analysts’ expectations of $238.46 million. Methode Electronics had a negative net margin of 3.50% and a negative return on equity of 5.59%. As a group, research analysts anticipate that Methode Electronics will post -0.95 EPS for the current year.

Methode Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, July 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. Methode Electronics’s dividend payout ratio is currently -19.80%.

Hedge Funds Weigh In On Methode Electronics

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Methode Electronics by 51.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 291,065 shares of the electronics maker’s stock worth $2,198,000 after acquiring an additional 99,308 shares during the period. Tudor Investment Corp ET AL boosted its holdings in Methode Electronics by 84.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 162,766 shares of the electronics maker’s stock valued at $1,229,000 after purchasing an additional 74,701 shares during the period. 4D Advisors LLC bought a new position in Methode Electronics in the 4th quarter valued at $3,320,000. Penn Capital Management Company LLC grew its position in shares of Methode Electronics by 66.9% during the 4th quarter. Penn Capital Management Company LLC now owns 296,267 shares of the electronics maker’s stock valued at $1,967,000 after purchasing an additional 118,749 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Methode Electronics during the 3rd quarter valued at $103,000. 95.49% of the stock is currently owned by institutional investors.

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.