Methode Electronics (NYSE:MEI) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Methode Electronics, Inc. (NYSE:MEI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.67 and traded as high as $16.90. Methode Electronics shares last traded at $16.4380, with a volume of 474,506 shares.

Analyst Ratings Changes

MEI has been the topic of several recent analyst reports. Sidoti reissued a “neutral” rating and issued a $17.00 price target on shares of Methode Electronics in a research note on Friday, June 26th. Barrington Research raised shares of Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a research report on Monday, June 29th. Wall Street Zen lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research report on Friday, July 17th. Finally, Zacks Research lowered shares of Methode Electronics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Methode Electronics presently has a consensus rating of “Reduce” and an average target price of $19.33.

Methode Electronics Trading Down 4.3%

The business has a 50 day moving average of $13.79 and a two-hundred day moving average of $9.73. The firm has a market capitalization of $544.14 million, a price-to-earnings ratio of -15.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.66 and a current ratio of 2.37.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Wednesday, June 24th. The electronics maker reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The firm had revenue of $298.10 million during the quarter, compared to analyst estimates of $238.46 million. Methode Electronics had a negative net margin of 3.50% and a negative return on equity of 5.59%. Equities analysts predict that Methode Electronics, Inc. will post -0.95 EPS for the current year.

Methode Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, July 17th. Methode Electronics’s payout ratio is -19.80%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MEI. Marquette Asset Management LLC acquired a new position in shares of Methode Electronics during the second quarter valued at about $370,000. Empowered Funds LLC raised its holdings in shares of Methode Electronics by 51.2% in the 1st quarter. Empowered Funds LLC now owns 632,346 shares of the electronics maker’s stock worth $3,491,000 after acquiring an additional 214,224 shares during the last quarter. Renaissance Technologies LLC lifted its position in Methode Electronics by 46.3% in the 1st quarter. Renaissance Technologies LLC now owns 90,000 shares of the electronics maker’s stock valued at $497,000 after acquiring an additional 28,500 shares in the last quarter. Sei Investments Co. boosted its stake in Methode Electronics by 87.7% during the 1st quarter. Sei Investments Co. now owns 465,973 shares of the electronics maker’s stock valued at $2,572,000 after purchasing an additional 217,764 shares during the last quarter. Finally, State of Wyoming acquired a new position in Methode Electronics during the 1st quarter valued at about $93,000. 95.49% of the stock is owned by institutional investors.

Methode Electronics Company Profile

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.