Methode Electronics, Inc. (MEI) Stock Rating Reaffirmed by Robert W. Baird
Methode Electronics, Inc. (NYSE:MEI)‘s stock had its “buy” rating restated by investment analysts at Robert W. Baird in a report released on Tuesday. They currently have a $46.00 target price on the electronics maker’s stock. Robert W. Baird’s target price indicates a potential upside of 2.22% from the company’s previous close.
A number of other equities analysts have also weighed in on the company. FBR & Co reaffirmed a “buy” rating on shares of Methode Electronics in a research report on Thursday, August 31st. Zacks Investment Research raised Methode Electronics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. BidaskClub lowered Methode Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. ValuEngine lowered Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Finally, B. Riley reissued a “buy” rating and issued a $49.00 price target on shares of Methode Electronics in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $48.00.
Shares of Methode Electronics (NYSE MEI) opened at 45.00 on Tuesday. Methode Electronics has a one year low of $29.85 and a one year high of $46.40. The firm’s 50-day moving average is $41.13 and its 200 day moving average is $41.03. The firm has a market capitalization of $1.66 billion, a P/E ratio of 18.29 and a beta of 0.76.
Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, August 31st. The electronics maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.12. Methode Electronics had a return on equity of 18.11% and a net margin of 11.16%. The company had revenue of $201.20 million for the quarter, compared to analyst estimates of $189.40 million. During the same period in the prior year, the firm earned $0.57 earnings per share. Methode Electronics’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts predict that Methode Electronics will post $2.54 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MEI. Acrospire Investment Management LLC raised its position in Methode Electronics by 22.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,751 shares of the electronics maker’s stock valued at $113,000 after buying an additional 500 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Methode Electronics by 132.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,757 shares of the electronics maker’s stock valued at $114,000 after buying an additional 1,572 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Methode Electronics in the 2nd quarter valued at $122,000. Riverhead Capital Management LLC raised its position in Methode Electronics by 87.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,996 shares of the electronics maker’s stock valued at $123,000 after buying an additional 1,396 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in Methode Electronics in the 2nd quarter valued at $132,000. 89.82% of the stock is owned by institutional investors and hedge funds.
Methode Electronics Company Profile
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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