Methode Electronics Upgraded by Zacks to “Neutral” (MEI)
Methode Electronics (NYSE:MEI) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Wednesday. The firm currently has a $34.80 target price on the stock. Zacks‘s target price points to a potential upside of 2.38% from the company’s current price.
A number of other analysts have also recently weighed in on MEI. Analysts at Off Wall Street reiterated a “sell” rating on shares of Methode Electronics in a research note on Monday, August 4th. Separately, analysts at FBR Capital Markets raised their price target on shares of Methode Electronics from $37.00 to $44.00 in a research note on Friday, June 27th. They now have an “outperform” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Methode Electronics from $38.00 to $41.00 in a research note on Friday, June 27th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $40.45.
Methode Electronics (NYSE:MEI) traded down 0.72% on Wednesday, hitting $33.7444. 107,328 shares of the company’s stock traded hands. Methode Electronics has a 52-week low of $17.01 and a 52-week high of $38.57. The stock has a 50-day moving average of $33.30 and a 200-day moving average of $31.95. The company has a market cap of $1.280 billion and a P/E ratio of 13.54.
Methode Electronics (NYSE:MEI) last released its earnings data on Thursday, June 26th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.71. The company had revenue of $224.90 million for the quarter, compared to the consensus estimate of $198.38 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 51.7% on a year-over-year basis. Analysts expect that Methode Electronics will post $1.97 EPS for the current fiscal year.
Methode Electronics, Inc is a manufacturer of component and subsystem devices with manufacturing, designs and testing facilities in China, Egypt, Germany, India, Lebanon, Malta, Mexico, the Philippines, Singapore, Switzerland, the United Kingdom and the United States.
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