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 report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a report on Friday, July 17th. Wall Street Zen cut Methode Electronics from a “buy” rating to a “hold” rating in a report on Sunday. Robert W. Baird upped their target price on Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Barrington Research raised Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research note on Monday, June 29th. Finally, Sidoti reiterated 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.33.

Methode Electronics Stock Performance

MEI stock opened at $17.26 on Tuesday. The company has a 50-day simple moving average of $14.47 and a 200 day simple moving average of $10.22. The company has a market capitalization of $612.14 million, a P/E ratio of -17.09 and a beta of 1.50. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.48. Methode Electronics has a fifty-two week low of $4.88 and a fifty-two week high of $20.38.

Methode Electronics (NYSE:MEI) last released its earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) EPS 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 analyst estimates of $238.46 million. Sell-side analysts predict that Methode Electronics will post -0.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Methode Electronics

A number of large investors have recently made changes to their positions in the business. 4D Advisors LLC bought a new position in Methode Electronics during the fourth quarter valued at approximately $3,320,000. UBS Group AG grew its position in Methode Electronics by 887.1% in the third quarter. UBS Group AG now owns 476,974 shares of the electronics maker’s stock worth $3,601,000 after acquiring an additional 428,654 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Methode Electronics by 31.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,380,436 shares of the electronics maker’s stock worth $9,166,000 after acquiring an additional 331,618 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Methode Electronics by 54.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 832,344 shares of the electronics maker’s stock worth $6,284,000 after purchasing an additional 293,843 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Methode Electronics by 29.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,209,756 shares of the electronics maker’s stock worth $11,505,000 after purchasing an additional 276,923 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

About Methode Electronics

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.