Methode Electronics (NYSE:MEI) Upgraded to “Hold” at Zacks Research

Methode Electronics (NYSE:MEI) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other analysts have also commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research report on Wednesday, October 8th. Wall Street Zen upgraded Methode Electronics from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Robert W. Baird raised their price target on Methode Electronics from $8.50 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.50.

Methode Electronics Trading Up 3.7%

Shares of MEI stock opened at $7.08 on Tuesday. The stock has a market cap of $249.18 million, a P/E ratio of -3.97 and a beta of 1.08. The company has a quick ratio of 1.68, a current ratio of 2.55 and a debt-to-equity ratio of 0.49. Methode Electronics has a fifty-two week low of $5.08 and a fifty-two week high of $13.51. The business has a fifty day simple moving average of $7.16 and a 200-day simple moving average of $7.59.

Methode Electronics (NYSE:MEI) last issued 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. Methode Electronics had a negative net margin of 6.39% and a negative return on equity of 7.10%. The firm had revenue of $246.90 million for the quarter, compared to analysts’ expectations of $237.69 million. On average, analysts forecast that Methode Electronics will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in shares of Methode Electronics by 1,027.4% in the second quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 2,815 shares during the period. Virtus Advisers LLC purchased a new position in Methode Electronics during the first quarter worth about $30,000. Aigen Investment Management LP acquired a new stake in Methode Electronics in the 1st quarter worth about $73,000. Brighton Jones LLC purchased a new stake in Methode Electronics in the 3rd quarter valued at about $90,000. Finally, Sentinel Pension Advisors LLC acquired a new position in shares of Methode Electronics during the 2nd quarter valued at about $95,000. 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.