Methode Electronics, Inc. (NYSE:MEI) Given Average Rating of "Hold" by Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Methode Electronics, with one sell, three hold, and two buy ratings. The average 12-month price target is $22, though recent targets range from $16 to $30.
• Methode reported quarterly revenue of $265.4 million and an adjusted earnings loss of $0.22 per share, outperforming estimates of $238.31 million in revenue and a $0.27 loss.
• Institutional investors own approximately 95.5% of the stock, while shares recently opened at $14.58 after rising 7.3%; the stock remains unprofitable, with a negative net margin and analysts expecting a full-year loss.

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) has received a consensus rating of "Hold" from the six analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $22.00.

Several analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of Methode Electronics from $8.50 to $16.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Barrington Research raised shares of Methode Electronics from a "market perform" rating to an "outperform" rating and set a $25.00 price objective on the stock in a research note on Monday, June 29th. Zacks Research upgraded shares of Methode Electronics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Sidoti reaffirmed a "neutral" rating and issued a $17.00 price target on shares of Methode Electronics in a report on Friday, June 26th. Finally, Craig Hallum assumed coverage on shares of Methode Electronics in a report on Tuesday, August 25th. They issued a "buy" rating and a $30.00 price target on the stock.

Institutional Investors Weigh In On Methode Electronics

A number of large investors have recently bought and sold shares of the stock. Allworth Financial LP increased its position in Methode Electronics by 123.6% during the second quarter. Allworth Financial LP now owns 2,115 shares of the electronics maker's stock worth $40,000 after buying an additional 1,169 shares in the last quarter. EverSource Wealth Advisors LLC lifted 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 acquiring an additional 2,815 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Methode Electronics during the second quarter valued at $64,000. Legal & General Group Plc acquired a new stake in shares of Methode Electronics during the second quarter valued at $65,000. Finally, Mercer Global Advisors Inc. ADV increased its position in Methode Electronics by 21.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,781 shares of the electronics maker's stock worth $145,000 after purchasing an additional 3,778 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Methode Electronics Stock Up 7.3%

Shares of Methode Electronics stock opened at $14.58 on Friday. Methode Electronics has a one year low of $4.88 and a one year high of $20.38. The company has a market cap of $519.81 million, a P/E ratio of -14.02 and a beta of 1.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.65 and a current ratio of 2.41. The firm has a fifty day moving average of $15.78 and a two-hundred day moving average of $11.67.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The electronics maker reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.05. The company had revenue of $265.40 million for the quarter, compared to analyst estimates of $238.31 million. Methode Electronics had a negative return on equity of 5.63% and a negative net margin of 3.52%. On average, analysts forecast that Methode Electronics will post -0.81 earnings per share for the current year.

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.

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