Methode Electronics, Inc. (MEI) Receives Consensus Rating of “Buy” from Brokerages
Shares of Methode Electronics, Inc. (NYSE:MEI) have been assigned an average rating of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $49.67.
Several research analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating on shares of Methode Electronics in a report on Wednesday, November 1st. Robert W. Baird reaffirmed a “buy” rating and issued a $46.00 target price on shares of Methode Electronics in a report on Tuesday, October 17th. ValuEngine raised shares of Methode Electronics from a “hold” rating to a “buy” rating in a report on Saturday, September 30th. Zacks Investment Research downgraded shares of Methode Electronics from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Finally, FBR & Co reaffirmed a “buy” rating on shares of Methode Electronics in a report on Thursday, August 31st.
Shares of Methode Electronics (MEI) traded up $0.15 during mid-day trading on Thursday, hitting $40.15. 318,500 shares of the stock were exchanged, compared to its average volume of 222,684. Methode Electronics has a 12-month low of $36.05 and a 12-month high of $48.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.22 and a current ratio of 3.74. The company has a market cap of $1,490.00, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 1.03 and a beta of 0.76.
Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, December 7th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.64. The firm had revenue of $230.10 million during the quarter, compared to the consensus estimate of $218.03 million. Methode Electronics had a net margin of 10.81% and a return on equity of 17.07%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. sell-side analysts expect that Methode Electronics will post 2.6 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of MEI. Acrospire Investment Management LLC lifted its stake in Methode Electronics by 22.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,751 shares of the electronics maker’s stock worth $113,000 after purchasing an additional 500 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in Methode Electronics by 87.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,996 shares of the electronics maker’s stock worth $123,000 after purchasing an additional 1,396 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Methode Electronics in the 2nd quarter worth $132,000. Victory Capital Management Inc. lifted its stake in Methode Electronics by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,565 shares of the electronics maker’s stock worth $147,000 after purchasing an additional 536 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Methode Electronics in the 2nd quarter worth $156,000. 89.95% of the stock is owned by institutional investors.
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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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