Methode Electronics (NYSE:MEI) Stock Rating Lowered by Zacks Research

Methode Electronics (NYSE:MEI) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research report on Tuesday, April 21st. 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. Sidoti reaffirmed a “neutral” rating and set a $17.00 price target on shares of Methode Electronics in a research report on Friday, June 26th. Finally, Robert W. Baird lifted their price target on Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $19.33.

Methode Electronics Price Performance

Shares of NYSE:MEI opened at $18.32 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.48. The stock has a market cap of $649.11 million, a PE ratio of -18.14 and a beta of 1.59. The stock’s fifty day simple moving average is $11.63 and its two-hundred day simple moving average is $8.72. Methode Electronics has a 1-year low of $4.88 and a 1-year high of $20.38.

Methode Electronics (NYSE:MEI) last posted its earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The firm had revenue of $298.10 million during the quarter, compared to the consensus estimate of $238.46 million. Methode Electronics had a negative return on equity of 5.59% and a negative net margin of 3.50%. As a group, analysts forecast that Methode Electronics will post -0.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Methode Electronics by 1,027.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 2,815 shares during the period. State of Wyoming bought a new position in Methode Electronics during the first quarter valued at $93,000. Mackenzie Financial Corp bought a new position in Methode Electronics during the third quarter valued at $103,000. XTX Topco Ltd purchased a new stake in Methode Electronics in the second quarter worth $107,000. Finally, Inscription Capital LLC purchased a new stake in Methode Electronics in the fourth quarter worth $112,000. 95.49% of the stock is owned by institutional investors.

About Methode Electronics

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.