Methode Electronics (MEI) Reaches New 1-Year Low at $25.25
Shares of Methode Electronics Inc. (NYSE:MEI) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $25.25 and last traded at $24.91, with a volume of 22162 shares. The stock had previously closed at $31.19.
A number of brokerages have recently issued reports on MEI. Zacks Investment Research upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. ValuEngine downgraded shares of Methode Electronics from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Robert W. Baird downgraded shares of Methode Electronics from an “outperform” rating to a “neutral” rating in a report on Monday, October 1st. TheStreet downgraded shares of Methode Electronics from a “b-” rating to a “c+” rating in a report on Tuesday, October 2nd. Finally, Craig Hallum set a $25.00 price target on shares of Methode Electronics and gave the stock a “hold” rating in a report on Friday, December 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $37.00.
The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.94 and a current ratio of 2.56. The firm has a market cap of $888.03 million, a price-to-earnings ratio of 7.82 and a beta of 1.21.
A number of institutional investors have recently bought and sold shares of MEI. LSV Asset Management increased its holdings in Methode Electronics by 485.5% in the 2nd quarter. LSV Asset Management now owns 1,077,402 shares of the electronics maker’s stock valued at $43,419,000 after purchasing an additional 893,402 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Methode Electronics by 784.2% in the 3rd quarter. Clearbridge Investments LLC now owns 662,827 shares of the electronics maker’s stock valued at $23,994,000 after purchasing an additional 587,860 shares during the last quarter. BlackRock Inc. increased its holdings in Methode Electronics by 9.1% in the 2nd quarter. BlackRock Inc. now owns 5,068,797 shares of the electronics maker’s stock valued at $204,273,000 after purchasing an additional 423,578 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Methode Electronics in the 2nd quarter valued at approximately $10,609,000. Finally, Royce & Associates LP increased its holdings in Methode Electronics by 18.5% in the 3rd quarter. Royce & Associates LP now owns 1,504,808 shares of the electronics maker’s stock valued at $54,474,000 after purchasing an additional 234,559 shares during the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.
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Methode Electronics Company Profile (NYSE:MEI)
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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