Methode Electronics (NYSE:MEI) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Key Points

• Robert W. Baird raised Methode Electronics' price target from $7.00 to $8.50, indicating a potential upside of 0.91% from its previous close.
• The company's stock was upgraded from a "sell" to a "hold" rating by Wall Street Zen, with an average target price of $11.25.
• Methode Electronics reported a quarterly earnings per share of ($0.22), surpassing estimates, alongside a revenue of $240.50 million.

Methode Electronics (NYSE:MEI - Get Free Report) had its price target lifted by investment analysts at Robert W. Baird from $7.00 to $8.50 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the electronics maker's stock. Robert W. Baird's price objective suggests a potential upside of 0.91% from the company's previous close.

Separately, Wall Street Zen upgraded Methode Electronics from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $11.25.

Methode Electronics Stock Up 13.8%

Shares of Methode Electronics stock opened at $8.42 on Thursday. The firm has a market capitalization of $296.57 million, a PE ratio of -5.43 and a beta of 1.07. Methode Electronics has a 12-month low of $5.08 and a 12-month high of $17.45. The company has a quick ratio of 1.57, a current ratio of 2.40 and a debt-to-equity ratio of 0.46. The stock's fifty day moving average is $7.27 and its 200-day moving average is $7.42.

Methode Electronics (NYSE:MEI - Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The electronics maker reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.18. Methode Electronics had a negative return on equity of 5.22% and a negative net margin of 5.30%.The company had revenue of $240.50 million during the quarter, compared to the consensus estimate of $224.57 million. During the same quarter in the prior year, the company posted ($0.31) EPS. Methode Electronics has set its FY 2026 guidance at EPS. Equities analysts anticipate that Methode Electronics will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MEI. Vanguard Group Inc. lifted its holdings in shares of Methode Electronics by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,931,118 shares of the electronics maker's stock worth $18,701,000 after acquiring an additional 85,811 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in Methode Electronics by 29.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,553,250 shares of the electronics maker's stock worth $9,910,000 after buying an additional 349,890 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Methode Electronics by 29.7% during the second quarter. AQR Capital Management LLC now owns 1,209,756 shares of the electronics maker's stock valued at $11,505,000 after purchasing an additional 276,923 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Methode Electronics by 12.9% during the second quarter. Ameriprise Financial Inc. now owns 802,899 shares of the electronics maker's stock valued at $7,636,000 after acquiring an additional 91,603 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Methode Electronics by 13.5% during the 1st quarter. American Century Companies Inc. now owns 609,428 shares of the electronics maker's stock valued at $3,888,000 after acquiring an additional 72,320 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.

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