Methode Electronics (NYSE:MEI) Stock Price Up 7.7% – Still a Buy?

Shares of Methode Electronics, Inc. (NYSE:MEI) were up 7.7% on Friday. The company traded as high as $15.37 and last traded at $15.3850. 138,842 shares traded hands during trading, a decline of 79% from the average daily volume of 673,583 shares. The stock had previously closed at $14.29.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MEI. Sidoti reissued a “neutral” rating and issued a $17.00 price objective on shares of Methode Electronics in a research note on Friday, June 26th. 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 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 reissued a “sell (d-)” rating on shares of Methode Electronics in a research note on Friday, July 17th. Finally, Barrington Research upgraded Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research note on Monday, June 29th. 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.00.

Methode Electronics Price Performance

The company’s 50-day simple moving average is $15.23 and its 200 day simple moving average is $12.35. The company has a quick ratio of 1.65, a current ratio of 2.41 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $548.65 million, a price-to-earnings ratio of -14.78 and a beta of 1.57.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Wednesday, September 2nd. The electronics maker reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The company had revenue of $265.40 million during the quarter, compared to analysts’ expectations of $238.31 million. Methode Electronics had a negative return on equity of 5.63% and a negative net margin of 3.52%. Equities research analysts forecast that Methode Electronics, Inc. will post -0.81 EPS for the current year.

Methode Electronics Dividend Announcement

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

Institutional Trading of Methode Electronics

Large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Methode Electronics in the 2nd quarter worth $65,727,000. AIGH Capital Management LLC acquired a new stake in shares of Methode Electronics in the second quarter valued at about $31,839,000. Dimensional Fund Advisors LP grew its position in shares of Methode Electronics by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,351,962 shares of the electronics maker’s stock valued at $7,463,000 after purchasing an additional 52,821 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Methode Electronics by 51.2% in the first quarter. Empowered Funds LLC now owns 632,346 shares of the electronics maker’s stock worth $3,491,000 after purchasing an additional 214,224 shares during the period. Finally, 4D Advisors LLC acquired a new position in shares of Methode Electronics during the 4th quarter worth about $3,320,000. 95.49% of the stock is owned by institutional investors.

Methode Electronics Company Profile

Methode Electronics, Inc (NYSE: MEI) is a global designer and manufacturer of custom-engineered products and solutions for automotive, industrial, aerospace, commercial and other specialized markets. The company develops technologies that help customers manage electrical power, transmit signals, sense operating conditions and control equipment.

Its product portfolio includes sensors and sensor-based systems, user-interface and control products, LED lighting and display solutions, power distribution and electrical components, connectors, and other electromechanical assemblies.