Methode Electronics (NYSE:MEI) Trading 4.6% Higher – Time to Buy?

Methode Electronics, Inc. (NYSE:MEI) shot up 4.6% during trading on Wednesday . The company traded as high as $14.44 and last traded at $14.1450. 150,665 shares were traded during trading, a decline of 78% from the average daily volume of 675,598 shares. The stock had previously closed at $13.52.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MEI shares. Barrington Research raised shares of Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a report on Monday, June 29th. Zacks Research upgraded shares of Methode Electronics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Craig Hallum began coverage on shares of Methode Electronics in a research report on Tuesday, August 25th. They issued a “buy” rating and a $30.00 price objective for the company. Wall Street Zen downgraded Methode Electronics from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Methode Electronics has a consensus rating of “Hold” and an average target price of $22.00.

Methode Electronics Trading Up 6.9%

The firm has a market cap of $515.32 million, a P/E ratio of -13.83 and a beta of 1.54. The business’s 50 day moving average is $15.43 and its 200-day moving average is $11.93. The company has a quick ratio of 1.65, a current ratio of 2.41 and a debt-to-equity ratio of 0.47.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Wednesday, September 2nd. The electronics maker reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. The firm had revenue of $265.40 million for the quarter, compared to the consensus estimate of $238.31 million. Methode Electronics had a negative net margin of 3.52% and a negative return on equity of 5.63%. As a group, analysts forecast that Methode Electronics, Inc. will post -0.81 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.4%. Methode Electronics’s dividend payout ratio (DPR) is presently -19.23%.

Institutional Trading of Methode Electronics

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Methode Electronics in the second quarter worth $65,727,000. AIGH Capital Management LLC acquired a new stake in shares of Methode Electronics during the second quarter worth $31,839,000. Empowered Funds LLC acquired a new stake in shares of Methode Electronics during the second quarter worth $11,882,000. 4D Advisors LLC bought a new position in shares of Methode Electronics in the 4th quarter worth about $3,320,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Methode Electronics in the 2nd quarter worth about $5,233,000. 95.49% of the stock is owned by institutional investors.

Methode Electronics Company Profile

Methode Electronics, Inc (NYSE: MEI) is a global designer and manufacturer of custom-engineered products and solutions for automotive, industrial, aerospace, commercial and other specialized markets. The company develops technologies that help customers manage electrical power, transmit signals, sense operating conditions and control equipment.

Its product portfolio includes sensors and sensor-based systems, user-interface and control products, LED lighting and display solutions, power distribution and electrical components, connectors, and other electromechanical assemblies.