Methode Electronics (NYSE:MEI) Raised to Outperform at Barrington Research

Methode Electronics (NYSE:MEI) was upgraded by stock analysts at Barrington Research from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $25.00 price target on the electronics maker’s stock. Barrington Research’s price objective indicates a potential upside of 30.12% from the company’s previous close.

MEI has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research note on Tuesday, April 21st. Sidoti restated a “neutral” rating and set a $17.00 target price on shares of Methode Electronics in a report on Friday. Finally, Robert W. Baird increased their target price on Methode Electronics from $8.50 to $16.00 and gave the company a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.33.

Methode Electronics Stock Up 0.3%

NYSE:MEI opened at $19.21 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.37 and a quick ratio of 1.66. Methode Electronics has a 1-year low of $4.88 and a 1-year high of $19.35. The company has a 50-day moving average of $10.93 and a 200 day moving average of $8.47. The firm has a market cap of $680.72 million, a PE ratio of -19.02 and a beta of 1.58.

Methode Electronics (NYSE:MEI) last posted its earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $298.10 million for the quarter, compared to analysts’ expectations of $238.46 million. As a group, research analysts anticipate that Methode Electronics will post -0.75 EPS for the current fiscal year.

Institutional Trading of Methode Electronics

Several large investors have recently added to or reduced their stakes in MEI. EverSource Wealth Advisors LLC increased its holdings in Methode Electronics by 1,027.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock worth $29,000 after buying an additional 2,815 shares during the period. State of Wyoming acquired a new stake in shares of Methode Electronics in the first quarter worth $93,000. Mackenzie Financial Corp acquired a new stake in shares of Methode Electronics in the third quarter worth $103,000. XTX Topco Ltd purchased a new position in shares of Methode Electronics during the second quarter worth $107,000. Finally, Inscription Capital LLC purchased a new position in shares of Methode Electronics during the fourth quarter worth $112,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

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.