Zacks Investment Research downgraded shares of Methode Electronics (NYSE:MEI) from a hold rating to a sell rating in a report issued on Saturday.

According to Zacks, “Methode Electronics, Inc. is a global manufacturer of electronic components and subsystems. Methode designs, manufactures and markets devices employing electrical, electronic, wireless, sensing and optical technologies. Methode’s components are found in the primary end-markets of the automotive, appliance, communications, aerospace, rail and other transportation industries, and the consumer and industrial equipment markets. “

Several other analysts have also recently issued reports on MEI. TheStreet raised Methode Electronics from a c+ rating to a b+ rating in a report on Monday, July 2nd. ValuEngine cut Methode Electronics from a hold rating to a sell rating in a report on Sunday, June 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $49.00.

Shares of MEI opened at $40.00 on Friday. The company has a market cap of $1.47 billion, a PE ratio of 13.17 and a beta of 1.03. Methode Electronics has a 1 year low of $36.75 and a 1 year high of $48.44. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.18 and a current ratio of 3.83.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, August 30th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The business had revenue of $223.40 million for the quarter, compared to analysts’ expectations of $230.69 million. Methode Electronics had a return on equity of 18.93% and a net margin of 6.49%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. equities analysts forecast that Methode Electronics will post 2.88 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of MEI. Integrated Investment Consultants LLC purchased a new stake in shares of Methode Electronics during the 2nd quarter worth approximately $113,000. Creative Planning bought a new position in shares of Methode Electronics during the 2nd quarter valued at approximately $202,000. Pitcairn Co. bought a new position in shares of Methode Electronics during the 1st quarter valued at approximately $216,000. Hartford Investment Management Co. bought a new position in shares of Methode Electronics during the 2nd quarter valued at approximately $230,000. Finally, Dubuque Bank & Trust Co. increased its position in shares of Methode Electronics by 24.8% during the 1st quarter. Dubuque Bank & Trust Co. now owns 6,293 shares of the electronics maker’s stock valued at $246,000 after purchasing an additional 1,250 shares during the last quarter. 95.60% of the stock is currently owned by institutional investors and hedge funds.

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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