Methode Electronics (NYSE:MEI) Price Target Raised to $8.50

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 - Free Report) had its price target lifted by Robert W. Baird from $7.00 to $8.50 in a report published on Thursday,Benzinga reports. Robert W. Baird currently has a neutral rating on the electronics maker's stock.

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

Methode Electronics Stock Down 1.8%

Shares of MEI traded down $0.15 on Thursday, hitting $7.93. 99,271 shares of the stock traded hands, compared to its average volume of 408,209. The company has a market capitalization of $279.04 million, a PE ratio of -5.11 and a beta of 1.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.50. The business has a 50 day simple moving average of $7.16 and a 200 day simple moving average of $7.31. Methode Electronics has a one year low of $5.08 and a one year high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its quarterly earnings results on Tuesday, September 9th. The electronics maker reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.18. Methode Electronics had a negative net margin of 5.30% and a negative return on equity of 5.27%. The company had revenue of $240.50 million during the quarter, compared to the consensus estimate of $224.57 million. During the same quarter last year, the firm earned ($0.31) earnings per share. Methode Electronics has set its FY 2026 guidance at EPS. As a group, equities analysts forecast that Methode Electronics will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Monday, July 21st were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, July 21st. Methode Electronics's dividend payout ratio (DPR) is currently -18.06%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MEI. EverSource Wealth Advisors LLC lifted its stake in shares of 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 valued at $29,000 after buying an additional 2,815 shares in the last quarter. Virtus Advisers LLC purchased a new position in shares of Methode Electronics during the 1st quarter valued at $30,000. Virtus Fund Advisers LLC purchased a new position in shares of Methode Electronics during the 4th quarter valued at $38,000. GAMMA Investing LLC lifted its stake in shares of Methode Electronics by 1,817.4% during the 1st quarter. GAMMA Investing LLC now owns 7,056 shares of the electronics maker's stock valued at $45,000 after buying an additional 6,688 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of Methode Electronics during the 1st quarter valued at $73,000. 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.