Methode Electronics (NYSE:MEI) Upgraded by Barrington Research to “Outperform” Rating

Methode Electronics (NYSE:MEI) was upgraded by equities researchers at Barrington Research from a “market perform” rating to an “outperform” rating in a report released on Monday, Marketbeat.com reports. The brokerage currently has a $25.00 price target on the electronics maker’s stock. Barrington Research’s target price suggests a potential upside of 30.12% from the company’s previous close.

MEI has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research note on Tuesday, April 21st. Sidoti reissued a “neutral” rating and issued a $17.00 target price on shares of Methode Electronics in a research note on Friday. Finally, Robert W. Baird raised their target price on shares of Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a report on Friday. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.33.

Methode Electronics Price Performance

NYSE:MEI opened at $19.21 on Monday. The firm has a market capitalization of $680.72 million, a price-to-earnings ratio of -19.02 and a beta of 1.58. Methode Electronics has a 1 year low of $4.88 and a 1 year high of $19.35. The business has a 50 day simple moving average of $10.93 and a 200-day simple moving average of $8.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.37 and a quick ratio of 1.66.

Methode Electronics (NYSE:MEI) last released its earnings results 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). Methode Electronics had a negative net margin of 3.50% and a negative return on equity of 5.59%. The company had revenue of $298.10 million for the quarter, compared to the consensus estimate of $238.46 million. Equities analysts forecast that Methode Electronics will post -0.75 EPS for the current year.

Institutional Trading of Methode Electronics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC lifted its holdings in Methode Electronics by 8.3% during the 1st quarter. Empowered Funds LLC now owns 127,268 shares of the electronics maker’s stock valued at $812,000 after buying an additional 9,787 shares in the last quarter. Strs Ohio bought a new stake in shares of Methode Electronics during the first quarter valued at approximately $133,000. JPMorgan Chase & Co. boosted its holdings in shares of Methode Electronics by 10.0% in the second quarter. JPMorgan Chase & Co. now owns 191,757 shares of the electronics maker’s stock valued at $1,824,000 after purchasing an additional 17,418 shares during the period. Franklin Resources Inc. bought a new position in Methode Electronics in the second quarter worth approximately $234,000. Finally, XTX Topco Ltd purchased a new position in Methode Electronics during the 2nd quarter worth $107,000. Hedge funds and other 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.