Methode Electronics Inc. (NYSE:MEI) has been assigned a consensus rating of “Hold” from the six research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $42.67.
A number of brokerages recently commented on MEI. Zacks Investment Research raised shares of Methode Electronics from a “sell” rating to a “hold” rating and set a $33.00 price objective on the stock in a research note on Thursday, March 7th. Craig Hallum raised shares of Methode Electronics from a “hold” rating to a “buy” rating and increased their price objective for the company from $25.00 to $42.00 in a research note on Friday, March 8th.
In other Methode Electronics news, CAO Amit N. Patel acquired 1,021 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average cost of $27.54 per share, with a total value of $28,118.34. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 3.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MEI. Norges Bank acquired a new stake in Methode Electronics in the 4th quarter valued at about $17,166,000. Investment Counselors of Maryland LLC boosted its stake in shares of Methode Electronics by 44.3% during the 4th quarter. Investment Counselors of Maryland LLC now owns 808,002 shares of the electronics maker’s stock worth $18,818,000 after purchasing an additional 247,907 shares during the last quarter. THB Asset Management boosted its stake in shares of Methode Electronics by 151.4% during the 1st quarter. THB Asset Management now owns 276,942 shares of the electronics maker’s stock worth $7,970,000 after purchasing an additional 166,801 shares during the last quarter. LSV Asset Management boosted its stake in shares of Methode Electronics by 12.6% during the 4th quarter. LSV Asset Management now owns 1,316,081 shares of the electronics maker’s stock worth $30,651,000 after purchasing an additional 146,756 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new stake in shares of Methode Electronics during the 4th quarter worth about $3,204,000. 92.38% of the stock is currently owned by hedge funds and other institutional investors.
Methode Electronics stock traded down $0.23 during trading hours on Wednesday, reaching $26.33. 193,700 shares of the stock were exchanged, compared to its average volume of 236,178. The company has a market cap of $945.73 million, a P/E ratio of 8.78 and a beta of 1.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.83 and a current ratio of 2.53. Methode Electronics has a 52-week low of $20.99 and a 52-week high of $45.45.
Methode Electronics Company Profile
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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