Methode Electronics (NYSE:MEI) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday, December 4th, MarketBeat.com reports. The brokerage currently has a $44.00 price objective on the electronics maker’s stock. Robert W. Baird’s price objective would suggest a potential upside of 87.47% from the company’s current price.

Several other research firms have also weighed in on MEI. Zacks Investment Research raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. ValuEngine lowered shares of Methode Electronics from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Finally, TheStreet lowered shares of Methode Electronics from a “b-” rating to a “c+” rating in a report on Tuesday, October 2nd. One research 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’s stock. The company currently has an average rating of “Hold” and a consensus target price of $34.67.

MEI stock opened at $23.47 on Tuesday. The company has a market capitalization of $888.03 million, a P/E ratio of 7.82 and a beta of 1.21. The company has a quick ratio of 1.94, a current ratio of 2.56 and a debt-to-equity ratio of 0.53. Methode Electronics has a 52 week low of $22.75 and a 52 week high of $45.45.

Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, December 6th. The electronics maker reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $264.00 million during the quarter, compared to analysts’ expectations of $269.57 million. Methode Electronics had a net margin of 5.27% and a return on equity of 19.33%. Methode Electronics’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. As a group, equities research analysts forecast that Methode Electronics will post 2.61 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in MEI. Marshall Wace North America L.P. acquired a new stake in shares of Methode Electronics during the third quarter worth $322,000. Clearbridge Investments LLC raised its position in Methode Electronics by 784.2% in the third quarter. Clearbridge Investments LLC now owns 662,827 shares of the electronics maker’s stock worth $23,994,000 after acquiring an additional 587,860 shares in the last quarter. Vanguard Group Inc. raised its position in Methode Electronics by 2.4% in the third quarter. Vanguard Group Inc. now owns 3,638,598 shares of the electronics maker’s stock worth $131,718,000 after acquiring an additional 84,173 shares in the last quarter. Legal & General Group Plc raised its position in Methode Electronics by 7.4% in the third quarter. Legal & General Group Plc now owns 84,333 shares of the electronics maker’s stock worth $3,055,000 after acquiring an additional 5,838 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in Methode Electronics by 7.2% in the third quarter. Teachers Advisors LLC now owns 81,859 shares of the electronics maker’s stock worth $2,963,000 after acquiring an additional 5,512 shares in the last quarter. Hedge funds and other institutional investors own 93.33% 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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