Methode Electronics Inc. (MEI) Sees Unusually-High Trading Volume
Methode Electronics Inc. (NYSE:MEI) saw unusually-high trading volume on Monday . Approximately 431,000 shares changed hands during trading, an increase of 97% from the previous session’s volume of 218,992 shares.The stock last traded at $35.30 and had previously closed at $34.03.
MEI has been the subject of a number of research reports. Zacks Investment Research raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, June 10th. B. Riley reissued a “buy” rating and issued a $44.50 price objective on shares of Methode Electronics in a report on Tuesday, June 21st. Robert W. Baird raised shares of Methode Electronics from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $35.00 to $45.00 in a report on Friday, June 24th. FBR & Co reissued an “outperform” rating and issued a $42.00 price objective on shares of Methode Electronics in a report on Friday, June 24th. Finally, Craig Hallum lowered shares of Methode Electronics from a “buy” rating to a “hold” rating and set a $37.00 price objective for the company. in a report on Friday. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of C$18.39.
The company has a market cap of $1.30 billion and a P/E ratio of 16.28. The company’s 50-day moving average price is $35.60 and its 200-day moving average price is $30.94.
Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, September 1st. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. The business earned $191.90 million during the quarter, compared to analyst estimates of $203.06 million. During the same period last year, the business posted $0.60 EPS. Methode Electronics’s revenue was down 5.6% compared to the same quarter last year. Equities analysts forecast that Methode Electronics Inc. will post $2.30 EPS for the current fiscal year.
In other news, Director Paul G. Shelton sold 2,000 shares of Methode Electronics stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of C$36.99, for a total transaction of C$73,980.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas A. Koman sold 26,666 shares of Methode Electronics stock in a transaction on Friday, July 1st. The stock was sold at an average price of C$34.37, for a total value of C$916,510.42. Following the transaction, the chief financial officer now directly owns 268,782 shares of the company’s stock, valued at approximately C$9,238,037.34. The disclosure for this sale can be found here.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.