Methode Electronics (NYSE:MEI) Rating Lowered to Strong Sell at Zacks Research

Methode Electronics (NYSE:MEI) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Several other research analysts have also recently commented on MEI. Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a research note on Tuesday, April 21st. Barrington Research raised Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Monday. Sidoti reiterated a “neutral” rating and issued a $17.00 price objective on shares of Methode Electronics in a research note on Friday, June 26th. Finally, Robert W. Baird boosted their price objective on Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $19.33.

Methode Electronics Stock Performance

Shares of MEI stock opened at $18.32 on Tuesday. The firm has a 50 day moving average of $11.63 and a two-hundred day moving average of $8.72. The stock has a market capitalization of $649.11 million, a PE ratio of -18.14 and a beta of 1.59. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.48. Methode Electronics has a 52 week low of $4.88 and a 52 week high of $20.38.

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

Institutional Trading of Methode Electronics

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Methode Electronics by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,169,009 shares of the electronics maker’s stock worth $23,926,000 after acquiring an additional 136,842 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Methode Electronics by 9.1% during the 4th quarter. Federated Hermes Inc. now owns 1,441,165 shares of the electronics maker’s stock worth $9,569,000 after acquiring an additional 120,202 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Methode Electronics by 31.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,380,436 shares of the electronics maker’s stock worth $9,166,000 after purchasing an additional 331,618 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Methode Electronics by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,351,962 shares of the electronics maker’s stock worth $7,463,000 after purchasing an additional 52,821 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Methode Electronics by 29.7% during the second quarter. AQR Capital Management LLC now owns 1,209,756 shares of the electronics maker’s stock worth $11,505,000 after purchasing an additional 276,923 shares during the last quarter. 95.49% of the stock is owned by hedge funds and other 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.