Methode Electronics (NYSE:MEI) Upgraded to Hold at Wall Street Zen

Methode Electronics (NYSE:MEI - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Separately, Robert W. Baird dropped their price target on Methode Electronics from $9.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th.

Methode Electronics Stock Performance

Methode Electronics stock opened at $6.61 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.57 and a debt-to-equity ratio of 0.46. The stock has a market cap of $232.56 million, a P/E ratio of -3.71 and a beta of 1.01. Methode Electronics has a 52 week low of $5.08 and a 52 week high of $17.45. The stock has a 50 day moving average of $8.28 and a 200-day moving average of $8.40.

Methode Electronics (NYSE:MEI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 9th. The electronics maker reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.80). The firm had revenue of $257,100 billion for the quarter, compared to analyst estimates of $228.75 million. Methode Electronics had a negative net margin of 5.97% and a negative return on equity of 5.60%. During the same period in the prior year, the company posted ($0.23) earnings per share. On average, analysts expect that Methode Electronics will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Methode Electronics

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Methode Electronics by 176.7% in the fourth quarter. JPMorgan Chase & Co. now owns 263,381 shares of the electronics maker's stock worth $3,105,000 after buying an additional 168,188 shares during the period. Barclays PLC increased its position in Methode Electronics by 42.1% in the fourth quarter. Barclays PLC now owns 181,716 shares of the electronics maker's stock worth $2,143,000 after buying an additional 53,799 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Methode Electronics by 2,396.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 287,440 shares of the electronics maker's stock worth $3,389,000 after buying an additional 275,926 shares during the period. Price T Rowe Associates Inc. MD increased its position in Methode Electronics by 30.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 43,763 shares of the electronics maker's stock worth $516,000 after buying an additional 10,283 shares during the period. Finally, Deutsche Bank AG increased its position in Methode Electronics by 4.4% in the fourth quarter. Deutsche Bank AG now owns 274,108 shares of the electronics maker's stock worth $3,232,000 after buying an additional 11,439 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

About Methode Electronics

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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