Methode Electronics Inc. (NYSE:MEI) fell 5% during mid-day trading on Friday . The stock traded as low as $24.07 and last traded at $23.76. 20,558 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 213,722 shares. The stock had previously closed at $25.01.

Several 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 research note on Wednesday, August 22nd. ValuEngine downgraded shares of Methode Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Robert W. Baird downgraded shares of Methode Electronics from an “outperform” rating to a “neutral” rating in a research note on Monday, October 1st. TheStreet downgraded shares of Methode Electronics from a “b-” rating to a “c+” rating in a research note 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 research note on Friday, December 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Methode Electronics has a consensus 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 company has a market capitalization of $888.03 million, a price-to-earnings ratio of 7.82 and a beta of 1.21.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, December 6th. The electronics maker reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. Methode Electronics had a net margin of 5.27% and a return on equity of 19.33%. The firm had revenue of $264.00 million for the quarter, compared to the consensus estimate of $269.57 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts expect that Methode Electronics Inc. will post 2.61 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Systematic Financial Management LP lifted its holdings in shares of Methode Electronics by 24.8% during the second quarter. Systematic Financial Management LP now owns 270,354 shares of the electronics maker’s stock valued at $10,895,000 after acquiring an additional 53,775 shares during the period. Paloma Partners Management Co bought a new position in shares of Methode Electronics during the second quarter valued at $434,000. Swiss National Bank lifted its holdings in shares of Methode Electronics by 9.6% during the second quarter. Swiss National Bank now owns 66,500 shares of the electronics maker’s stock valued at $2,680,000 after acquiring an additional 5,800 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of Methode Electronics by 31.8% during the second quarter. Macquarie Group Ltd. now owns 85,400 shares of the electronics maker’s stock valued at $3,442,000 after acquiring an additional 20,600 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Methode Electronics during the second quarter valued at $10,609,000. Hedge funds and other institutional investors own 93.33% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was published by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/methode-electronics-mei-stock-price-down-5/2668271.html.

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.

Further Reading: Hedge Funds – Risk or Reward?

Receive News & Ratings for Methode Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics and related companies with MarketBeat.com's FREE daily email newsletter.