Methode Electronics (NYSE:MEI) Raised to Buy at Sidoti

Methode Electronics (NYSE:MEI) was upgraded by equities researchers at Sidoti from a “neutral” rating to a “buy” rating in a report released on Tuesday, MarketBeat Ratings reports. The firm presently has a $14.00 price objective on the electronics maker’s stock. Sidoti’s price objective points to a potential upside of 25.38% from the company’s current price.

Separately, Robert W. Baird increased their target price on shares of Methode Electronics from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, December 6th.

Methode Electronics Stock Down 1.6 %

MEI stock opened at $11.17 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.75 and a quick ratio of 1.73. Methode Electronics has a 52-week low of $8.54 and a 52-week high of $21.86. The company has a 50-day moving average of $11.51 and a two-hundred day moving average of $10.97. The stock has a market capitalization of $398.15 million, a price-to-earnings ratio of -4.41 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.31. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same quarter in the previous year, the business earned $0.06 earnings per share. As a group, equities research analysts anticipate that Methode Electronics will post -0.4 EPS for the current year.

Institutional Trading of Methode Electronics

Several hedge funds have recently modified their holdings of MEI. Verition Fund Management LLC increased its holdings in shares of Methode Electronics by 263.2% in the third quarter. Verition Fund Management LLC now owns 52,796 shares of the electronics maker’s stock valued at $631,000 after purchasing an additional 38,259 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Methode Electronics by 5.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,123,760 shares of the electronics maker’s stock worth $13,440,000 after purchasing an additional 62,470 shares in the last quarter. Walleye Capital LLC boosted its position in shares of Methode Electronics by 86.6% during the third quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock worth $3,999,000 after purchasing an additional 155,147 shares in the last quarter. Barclays PLC boosted its position in shares of Methode Electronics by 112.3% during the third quarter. Barclays PLC now owns 127,917 shares of the electronics maker’s stock worth $1,530,000 after purchasing an additional 67,656 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Methode Electronics during the third quarter worth $1,466,000. Institutional investors and hedge funds 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.