Jefferies Financial Group Begins Coverage on Methode Electronics (NYSE:MEI)

Jefferies Financial Group assumed coverage on shares of Methode Electronics (NYSE:MEI - Get Free Report) in a report released on Tuesday, Marketbeat reports. The firm set a "hold" rating and a $12.00 price target on the electronics maker's stock. Jefferies Financial Group's price objective indicates a potential downside of 4.84% from the company's previous close.

Separately, Sidoti reiterated a "neutral" rating and issued a $17.00 target price on shares of Methode Electronics in a research note on Thursday, March 7th.

Methode Electronics Trading Up 0.2 %

Shares of NYSE:MEI traded up $0.03 during mid-day trading on Tuesday, reaching $12.61. The stock had a trading volume of 578,429 shares, compared to its average volume of 515,680. Methode Electronics has a twelve month low of $11.21 and a twelve month high of $46.58. The company has a current ratio of 2.74, a quick ratio of 1.85 and a debt-to-equity ratio of 0.40. The firm has a 50 day simple moving average of $17.18 and a two-hundred day simple moving average of $20.82. The firm has a market cap of $446.27 million, a PE ratio of -7.68 and a beta of 0.86.

Methode Electronics (NYSE:MEI - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The electronics maker reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.40). The firm had revenue of $259.50 million for the quarter, compared to analyst estimates of $288.50 million. Methode Electronics had a positive return on equity of 0.07% and a negative net margin of 5.09%. During the same period in the previous year, the business posted $0.54 earnings per share. On average, research analysts predict that Methode Electronics will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Methode Electronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in shares of Methode Electronics in the 2nd quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC purchased a new position in Methode Electronics during the fourth quarter worth $53,000. Quadrant Capital Group LLC boosted its stake in Methode Electronics by 512.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,212 shares of the electronics maker's stock worth $28,000 after buying an additional 1,014 shares during the period. CWM LLC increased its position in Methode Electronics by 503.2% during the third quarter. CWM LLC now owns 1,689 shares of the electronics maker's stock valued at $39,000 after acquiring an additional 1,409 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Methode Electronics in the second quarter valued at $99,000. 95.49% of the stock is owned by 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.