Methode Electronics, Inc. (MEI) Stock Rating Lowered by ValuEngine

Methode Electronics, Inc. (NYSE:MEI) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other equities analysts have also issued reports about the stock. B. Riley restated a “buy” rating and issued a $49.00 price objective on shares of Methode Electronics in a research report on Friday, June 23rd. BidaskClub lowered shares of Methode Electronics from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Robert W. Baird restated an “outperform” rating and issued a $47.00 price objective (down from $51.00) on shares of Methode Electronics in a research report on Monday, June 19th. FBR & Co restated an “outperform” rating and issued a $49.00 price objective on shares of Methode Electronics in a research report on Tuesday, July 18th. Finally, Zacks Investment Research lowered shares of Methode Electronics from a “hold” rating to a “sell” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Methode Electronics has a consensus rating of “Hold” and a consensus target price of $46.00.

Methode Electronics (NYSE MEI) traded up 1.17% on Thursday, reaching $38.80. 201,582 shares of the company traded hands. The stock has a 50-day moving average price of $39.52 and a 200-day moving average price of $41.61. The firm has a market cap of $1.43 billion, a P/E ratio of 15.65 and a beta of 0.76. Methode Electronics has a 52-week low of $29.85 and a 52-week high of $46.40.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Thursday, June 22nd. The electronics maker reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Methode Electronics had a net margin of 11.38% and a return on equity of 18.81%. The company had revenue of $219.70 million during the quarter, compared to analyst estimates of $214.39 million. During the same period last year, the business earned $0.60 earnings per share. Methode Electronics’s revenue was up 3.2% compared to the same quarter last year. Analysts anticipate that Methode Electronics will post $2.46 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Miles Capital Inc. raised its stake in shares of Methode Electronics by 0.3% in the first quarter. Miles Capital Inc. now owns 6,391 shares of the electronics maker’s stock valued at $291,000 after buying an additional 17 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of Methode Electronics by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,858 shares of the electronics maker’s stock valued at $447,000 after buying an additional 28 shares during the last quarter. Pinebridge Investments L.P. raised its stake in shares of Methode Electronics by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 4,847 shares of the electronics maker’s stock valued at $199,000 after buying an additional 49 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Methode Electronics by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 4,060 shares of the electronics maker’s stock valued at $185,000 after buying an additional 60 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Methode Electronics by 0.3% in the first quarter. US Bancorp DE now owns 24,691 shares of the electronics maker’s stock valued at $1,126,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 90.11% of the company’s stock.

Methode Electronics Company Profile

Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.