Methode Electronics (NYSE:MEI) Shares Cross Above 200-Day Moving Average – Time to Sell?

Methode Electronics, Inc. (NYSE:MEI) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.19 and traded as high as $7.44. Methode Electronics shares last traded at $7.1530, with a volume of 300,183 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research note on Wednesday, October 8th. Robert W. Baird set a $8.50 price target on shares of Methode Electronics in a research report on Wednesday, January 14th. Finally, Zacks Research raised Methode Electronics to a “hold” rating in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Methode Electronics has a consensus rating of “Hold” and an average target price of $11.25.

Methode Electronics Trading Down 4.8%

The company has a debt-to-equity ratio of 0.49, a current ratio of 2.55 and a quick ratio of 1.68. The stock’s 50 day moving average is $7.07 and its 200-day moving average is $7.19. The company has a market capitalization of $253.29 million, a P/E ratio of -4.02 and a beta of 1.07.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Wednesday, December 3rd. The electronics maker reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. Methode Electronics had a negative return on equity of 7.10% and a negative net margin of 6.39%.The business had revenue of $246.90 million for the quarter, compared to analysts’ expectations of $237.69 million. As a group, equities research analysts anticipate that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, January 16th. Methode Electronics’s dividend payout ratio is presently -11.24%.

Institutional Trading of Methode Electronics

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in shares of Methode Electronics by 1,027.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 2,815 shares in the last quarter. Brighton Jones LLC bought a new stake in Methode Electronics during the third quarter worth about $90,000. Smith Moore & CO. purchased a new stake in Methode Electronics in the second quarter worth about $95,000. Pallas Capital Advisors LLC bought a new position in shares of Methode Electronics during the second quarter valued at approximately $103,000. Finally, Mackenzie Financial Corp bought a new position in shares of Methode Electronics during the third quarter valued at approximately $103,000. Institutional investors own 95.49% of the company’s stock.

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.