ValuEngine Lowers Methode Electronics (NYSE:MEI) to Strong Sell

ValuEngine lowered shares of Methode Electronics (NYSE:MEI) from a sell rating to a strong sell rating in a research report sent to investors on Thursday, ValuEngine reports.

A number of other equities research analysts have also weighed in on MEI. TheStreet raised Methode Electronics from a c+ rating to a b rating in a research note on Wednesday, September 11th. B. Riley set a $42.00 target price on Methode Electronics and gave the company a buy rating in a research note on Friday, August 30th. Finally, Zacks Investment Research raised Methode Electronics from a sell rating to a hold rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Methode Electronics currently has a consensus rating of Hold and a consensus target price of $40.25.

Shares of NYSE MEI traded up $0.49 during midday trading on Thursday, reaching $33.15. The company had a trading volume of 217,606 shares, compared to its average volume of 252,125. Methode Electronics has a one year low of $20.99 and a one year high of $37.42. The company has a quick ratio of 1.88, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average price is $32.86 and its 200-day moving average price is $29.26. The stock has a market cap of $1.21 billion, a PE ratio of 11.07 and a beta of 1.48.

Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, August 29th. The electronics maker reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. Methode Electronics had a return on equity of 16.39% and a net margin of 9.19%. The company had revenue of $270.20 million during the quarter, compared to analyst estimates of $268.15 million. During the same quarter in the previous year, the company posted $0.63 EPS. Methode Electronics’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, equities research analysts expect that Methode Electronics will post 3.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.44 dividend on an annualized basis and a yield of 1.33%. Methode Electronics’s dividend payout ratio is presently 14.86%.

In other Methode Electronics news, Director Bruce K. Crowther purchased 900 shares of Methode Electronics stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $31.58 per share, for a total transaction of $28,422.00. Following the acquisition, the director now directly owns 3,900 shares in the company, valued at $123,162. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in MEI. NumerixS Investment Technologies Inc purchased a new position in Methode Electronics during the 1st quarter valued at about $90,000. Dynamic Technology Lab Private Ltd purchased a new position in Methode Electronics during the 1st quarter valued at about $377,000. ClariVest Asset Management LLC increased its holdings in Methode Electronics by 208.0% during the 1st quarter. ClariVest Asset Management LLC now owns 77,000 shares of the electronics maker’s stock valued at $2,217,000 after purchasing an additional 52,000 shares during the period. Palouse Capital Management Inc. purchased a new position in shares of Methode Electronics during the 1st quarter worth approximately $219,000. Finally, Nordea Investment Management AB grew its holdings in shares of Methode Electronics by 25.6% during the 1st quarter. Nordea Investment Management AB now owns 172,800 shares of the electronics maker’s stock worth $4,974,000 after acquiring an additional 35,200 shares during the period. Institutional investors own 92.91% 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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