Methode Electronics (MEI) Given a $25.00 Price Target at Craig Hallum

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Methode Electronics (NYSE:MEI) received a $25.00 price target from equities researchers at Craig Hallum in a report issued on Friday, The Fly reports. The firm presently has a “hold” rating on the electronics maker’s stock. Craig Hallum’s target price would suggest a potential upside of 6.52% from the company’s current price. The analysts noted that the move was a valuation call.

A number of other equities analysts also recently issued reports on MEI. Zacks Investment Research upgraded Methode Electronics from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, December 5th. ValuEngine upgraded Methode Electronics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 5th. Robert W. Baird upgraded Methode Electronics from a “neutral” rating to an “outperform” rating in a research note on Tuesday, December 4th. Finally, TheStreet downgraded Methode Electronics from a “b-” rating to a “c+” rating in a research note on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $37.00.

MEI opened at $23.47 on Friday. Methode Electronics has a one year low of $22.75 and a one year high of $45.45. The company has a market cap of $888.03 million, a price-to-earnings ratio of 7.82 and a beta of 1.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.56 and a quick ratio of 1.94.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, December 6th. The electronics maker reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.08. Methode Electronics had a return on equity of 19.33% and a net margin of 5.27%. The company had revenue of $264.00 million during the quarter, compared to analyst estimates of $269.57 million. During the same quarter last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts forecast that Methode Electronics will post 2.61 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. purchased a new position in Methode Electronics during the third quarter valued at $322,000. Clearbridge Investments LLC lifted its position in Methode Electronics by 784.2% during the third quarter. Clearbridge Investments LLC now owns 662,827 shares of the electronics maker’s stock valued at $23,994,000 after purchasing an additional 587,860 shares in the last quarter. Vanguard Group Inc. lifted its position in Methode Electronics by 2.4% during the third quarter. Vanguard Group Inc. now owns 3,638,598 shares of the electronics maker’s stock valued at $131,718,000 after purchasing an additional 84,173 shares in the last quarter. Legal & General Group Plc lifted its position in Methode Electronics by 7.4% during the third quarter. Legal & General Group Plc now owns 84,333 shares of the electronics maker’s stock valued at $3,055,000 after purchasing an additional 5,838 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in Methode Electronics by 7.2% during the third quarter. Teachers Advisors LLC now owns 81,859 shares of the electronics maker’s stock valued at $2,963,000 after purchasing an additional 5,512 shares in the last quarter. Institutional investors own 93.33% of the company’s stock.

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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