Methode Electronics Inc. (MEI) Given Consensus Rating of “Hold” by Analysts

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Shares of Methode Electronics Inc. (NYSE:MEI) have been assigned a consensus rating of “Hold” from the six research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $37.00.

Several research analysts have weighed in on MEI shares. Zacks Investment Research upgraded Methode Electronics from a “sell” rating to a “hold” rating in a research note on Thursday. B. Riley restated a “buy” rating and issued a $42.00 price target on shares of Methode Electronics in a research note on Friday, December 7th. Craig Hallum set a $25.00 price target on Methode Electronics and gave the stock a “hold” rating in a research note on Friday, December 7th. They noted that the move was a valuation call. ValuEngine upgraded Methode Electronics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 5th. Finally, Robert W. Baird upgraded Methode Electronics from a “neutral” rating to an “outperform” rating and set a $44.00 price target for the company in a research note on Tuesday, December 4th.

Methode Electronics stock traded down $0.46 during midday trading on Thursday, hitting $26.22. The stock had a trading volume of 144,528 shares, compared to its average volume of 266,032. The firm has a market capitalization of $973.95 million, a price-to-earnings ratio of 8.74 and a beta of 1.40. Methode Electronics has a 52-week low of $20.99 and a 52-week high of $45.45. The company has a current ratio of 2.56, a quick ratio of 1.94 and a debt-to-equity ratio of 0.53.

Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, December 6th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The company had revenue of $264.00 million during the quarter, compared to analyst estimates of $269.57 million. Methode Electronics had a net margin of 5.27% and a return on equity of 19.33%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. On average, analysts predict that Methode Electronics will post 2.61 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 25th. Shareholders of record on Friday, January 11th were paid a $0.11 dividend. The ex-dividend date was Thursday, January 10th. This represents a $0.44 dividend on an annualized basis and a yield of 1.68%. Methode Electronics’s payout ratio is 14.67%.

In other Methode Electronics news, CFO Ronald L.G. Tsoumas bought 5,735 shares of Methode Electronics stock in a transaction on Saturday, December 28th. The shares were acquired at an average price of $24.98 per share, for a total transaction of $143,260.30. Following the completion of the purchase, the chief financial officer now directly owns 91,501 shares in the company, valued at approximately $2,285,694.98. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher J. Hornung bought 8,200 shares of Methode Electronics stock in a transaction on Friday, December 21st. The stock was acquired at an average price of $22.16 per share, for a total transaction of $181,712.00. Following the purchase, the director now owns 49,050 shares of the company’s stock, valued at $1,086,948. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 90,518 shares of company stock worth $2,153,707. Insiders own 3.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. First Interstate Bank increased its stake in Methode Electronics by 13.4% in the fourth quarter. First Interstate Bank now owns 4,311 shares of the electronics maker’s stock worth $100,000 after purchasing an additional 510 shares during the period. First Hawaiian Bank purchased a new position in shares of Methode Electronics during the third quarter valued at $242,000. Quantbot Technologies LP purchased a new position in shares of Methode Electronics during the third quarter valued at $263,000. Marshall Wace North America L.P. purchased a new position in shares of Methode Electronics during the third quarter valued at $322,000. Finally, Unison Advisors LLC purchased a new position in shares of Methode Electronics during the fourth quarter valued at $241,000. Institutional investors and hedge funds own 93.22% of the company’s stock.

About Methode Electronics

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.

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