Robert W. Baird Increases Methode Electronics (NYSE:MEI) Price Target to $9.00

Methode Electronics (NYSE:MEI) had its price target increased by equities research analysts at Robert W. Baird from $8.50 to $9.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the electronics maker’s stock. Robert W. Baird’s price target would indicate a potential upside of 16.20% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.50.

Methode Electronics Stock Down 10.9%

Shares of NYSE MEI opened at $7.75 on Friday. The stock has a market capitalization of $272.70 million, a P/E ratio of -4.35 and a beta of 1.08. The company has a 50-day moving average price of $7.21 and a 200-day moving average price of $7.60. Methode Electronics has a 1 year low of $5.08 and a 1 year high of $17.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.50 and a quick ratio of 1.63.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Wednesday, December 3rd. The electronics maker reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. Methode Electronics had a negative return on equity of 7.06% and a negative net margin of 6.39%.The firm had revenue of $246.90 million during the quarter, compared to analyst estimates of $237.69 million. On average, equities research analysts forecast that Methode Electronics will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Methode Electronics

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Methode Electronics by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,931,118 shares of the electronics maker’s stock worth $18,701,000 after acquiring an additional 85,811 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Methode Electronics by 25.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 475,354 shares of the electronics maker’s stock valued at $3,033,000 after purchasing an additional 95,938 shares during the last quarter. Deutsche Bank AG lifted its holdings in Methode Electronics by 33.0% during the first quarter. Deutsche Bank AG now owns 364,666 shares of the electronics maker’s stock valued at $2,327,000 after purchasing an additional 90,558 shares during the last quarter. Aigen Investment Management LP bought a new position in Methode Electronics during the first quarter worth about $73,000. Finally, Nuveen LLC purchased a new position in shares of Methode Electronics in the first quarter worth about $2,379,000. 95.49% of the stock is owned by institutional investors.

Methode Electronics Company Profile

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.