Methode Electronics, Inc. (NYSE:MEI) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Saturday.

A number of other equities analysts have also recently issued reports on MEI. Zacks Investment Research cut Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Robert W. Baird reiterated an “outperform” rating and issued a $47.00 target price (down from $51.00) on shares of Methode Electronics in a report on Monday, June 19th. B. Riley reiterated a “buy” rating and issued a $49.00 target price on shares of Methode Electronics in a report on Friday, June 23rd. FBR & Co reiterated an “outperform” rating and issued a $49.00 target price on shares of Methode Electronics in a report on Tuesday, July 18th. Finally, ValuEngine cut Methode Electronics from a “buy” rating to a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Methode Electronics currently has an average rating of “Hold” and an average price target of $46.00.

Methode Electronics (NYSE:MEI) traded up 0.39% on Friday, reaching $38.95. 203,376 shares of the company’s stock traded hands. Methode Electronics has a 52-week low of $29.85 and a 52-week high of $46.40. The stock’s 50 day moving average is $39.49 and its 200 day moving average is $41.60. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 15.43 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, June 22nd. The electronics maker reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $219.70 million for the quarter, compared to analysts’ expectations of $214.39 million. Methode Electronics had a return on equity of 18.81% and a net margin of 11.38%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. On average, equities research analysts predict that Methode Electronics will post $2.46 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of the company. Miles Capital Inc. boosted its position 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 worth $291,000 after buying an additional 17 shares in the last quarter. Alps Advisors Inc. boosted its position 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 worth $447,000 after buying an additional 28 shares in the last quarter. Pinebridge Investments L.P. boosted its position 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 worth $199,000 after buying an additional 49 shares in the last quarter. State of Alaska Department of Revenue boosted its position 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 worth $185,000 after buying an additional 60 shares in the last quarter. Finally, US Bancorp DE boosted its position 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 worth $1,126,000 after buying an additional 64 shares in the last quarter. Institutional investors 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.

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