Methode Electronics, Inc. (NYSE:MEI) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.

MEI has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Robert W. Baird reissued an “outperform” rating and set a $47.00 price target (down from $51.00) on shares of Methode Electronics in a report on Monday, June 19th. FBR & Co reissued an “outperform” rating and set a $49.00 price target on shares of Methode Electronics in a report on Tuesday, July 18th. Finally, B. Riley reissued a “buy” rating and set a $49.00 price target on shares of Methode Electronics in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Methode Electronics currently has a consensus rating of “Hold” and a consensus target price of $46.00.

Methode Electronics (NYSE MEI) traded down 0.92% on Friday, hitting $37.65. 266,968 shares of the company were exchanged. Methode Electronics has a 52 week low of $29.85 and a 52 week high of $46.40. The firm’s 50 day moving average is $40.11 and its 200 day moving average is $41.84. The company has a market capitalization of $1.39 billion, a P/E ratio of 15.18 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, June 22nd. The electronics maker reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.05. Methode Electronics had a net margin of 11.38% and a return on equity of 18.81%. The firm had revenue of $219.70 million for the quarter, compared to the consensus estimate of $214.39 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts forecast that Methode Electronics will post $2.46 earnings per share for the current fiscal year.

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Institutional investors have recently bought and sold shares of the stock. Teachers Advisors LLC increased its position in Methode Electronics by 4.3% in the fourth quarter. Teachers Advisors LLC now owns 67,120 shares of the electronics maker’s stock valued at $2,775,000 after buying an additional 2,749 shares during the last quarter. Bank of Montreal Can increased its position in Methode Electronics by 307.0% in the first quarter. Bank of Montreal Can now owns 51,965 shares of the electronics maker’s stock valued at $2,369,000 after buying an additional 39,198 shares during the last quarter. First National Bank of Omaha increased its position in Methode Electronics by 6.0% in the first quarter. First National Bank of Omaha now owns 70,770 shares of the electronics maker’s stock valued at $2,771,000 after buying an additional 3,978 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Methode Electronics by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the electronics maker’s stock valued at $684,000 after buying an additional 100 shares during the last quarter. Finally, Legato Capital Management LLC increased its position in Methode Electronics by 4,460.0% in the first quarter. Legato Capital Management LLC now owns 67,944 shares of the electronics maker’s stock valued at $1,490,000 after buying an additional 66,454 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

About Methode Electronics

Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.

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