Methode Electronics (NYSE:MEI) Price Target Raised to $9.00 at Robert W. Baird

Methode Electronics (NYSE:MEI) had its price objective boosted by analysts at Robert W. Baird from $8.50 to $9.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the electronics maker’s stock. Robert W. Baird’s price objective points to a potential upside of 16.20% from the stock’s current price.

Other equities analysts have also issued reports about the company. Wall Street Zen upgraded Methode Electronics from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Methode Electronics currently has an average rating of “Hold” and a consensus price target of $11.50.

Methode Electronics Stock Performance

Shares of MEI opened at $7.75 on Friday. The stock’s 50-day simple moving average is $7.21 and its 200 day simple moving average is $7.60. The stock has a market capitalization of $272.70 million, a price-to-earnings ratio of -4.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.50. Methode Electronics has a 52-week low of $5.08 and a 52-week high of $17.45.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Wednesday, December 3rd. The electronics maker reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The company had revenue of $246.90 million during the quarter, compared to analyst estimates of $237.69 million. Methode Electronics had a negative net margin of 6.39% and a negative return on equity of 7.06%. Research analysts forecast that Methode Electronics will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC lifted its stake in shares of Methode Electronics by 2.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 85,997 shares of the electronics maker’s stock valued at $818,000 after acquiring an additional 2,423 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Methode Electronics by 1,027.4% during 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 during the last quarter. Sei Investments Co. increased its stake in Methode Electronics by 9.3% in the 2nd quarter. Sei Investments Co. now owns 54,040 shares of the electronics maker’s stock worth $514,000 after purchasing an additional 4,600 shares during the period. Virtus Advisers LLC purchased a new position in Methode Electronics in the 1st quarter worth approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Methode Electronics by 25.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,072 shares of the electronics maker’s stock valued at $201,000 after purchasing an additional 5,570 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Methode Electronics Company Profile

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.