Methode Electronics (NYSE:MEI) Stock Jumps 4.7% – Time to Buy?

Methode Electronics, Inc. (NYSE:MEI) traded up 4.7% during trading on Thursday. The company traded as high as $15.64 and last traded at $15.8210. 128,993 shares traded hands during trading, a decline of 81% from the average daily volume of 672,385 shares. The stock had previously closed at $15.11.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Sidoti reiterated a “neutral” rating and set a $17.00 price objective on shares of Methode Electronics in a report on Friday, June 26th. Zacks Research upgraded shares of Methode Electronics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research report on Friday, July 17th. Robert W. Baird increased their price target on shares of Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, Craig Hallum started coverage on shares of Methode Electronics in a report on Tuesday, August 25th. They issued a “buy” rating and a $30.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Methode Electronics presently has a consensus rating of “Hold” and an average price target of $22.00.

Methode Electronics Price Performance

The company has a 50 day simple moving average of $15.37 and a 200 day simple moving average of $12.72. The company has a market capitalization of $556.89 million, a price-to-earnings ratio of -15.02 and a beta of 1.57. The company has a quick ratio of 1.65, a current ratio of 2.41 and a debt-to-equity ratio of 0.47.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Wednesday, September 2nd. The electronics maker reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.05. Methode Electronics had a negative return on equity of 5.63% and a negative net margin of 3.52%. The business had revenue of $265.40 million for the quarter, compared to analyst estimates of $238.31 million. As a group, research analysts predict that Methode Electronics, Inc. will post -0.81 EPS for the current year.

Methode Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, October 16th. Methode Electronics’s payout ratio is -19.23%.

Institutional Investors Weigh In On Methode Electronics

Several large investors have recently made changes to their positions in the business. Sei Investments Co. lifted its stake in shares of Methode Electronics by 87.7% during the first quarter. Sei Investments Co. now owns 465,973 shares of the electronics maker’s stock worth $2,572,000 after purchasing an additional 217,764 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Methode Electronics in the second quarter valued at about $5,233,000. Wellington Management Group LLP acquired a new stake in shares of Methode Electronics in the second quarter valued at about $1,658,000. Ieq Capital LLC purchased a new stake in shares of Methode Electronics during the 2nd quarter valued at about $2,330,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Methode Electronics during the 2nd quarter valued at about $549,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Methode Electronics Company Profile

Methode Electronics, Inc is a global designer and manufacturer of custom-engineered electrical and electronic products. The company develops solutions that connect, control, sense and illuminate systems for original equipment manufacturers and other industrial customers.

Its products include sensors, switches and other user-interface components; LED lighting systems; power distribution and management products; flexible circuits and interconnect technologies; and electronic and electromechanical assemblies.