Robert W. Baird Reaffirms Neutral Rating for Methode Electronics (NYSE:MEI)

Robert W. Baird reaffirmed their neutral rating on shares of Methode Electronics (NYSE:MEI) in a research note released on Monday, The Fly reports. They currently have a $34.00 price target on the electronics maker’s stock.

A number of other analysts also recently issued reports on the company. Zacks Investment Research upgraded Methode Electronics from a strong sell rating to a hold rating in a research report on Wednesday, June 24th. ValuEngine raised shares of Methode Electronics from a strong sell rating to a sell rating in a research note on Tuesday, September 1st. Finally, TheStreet lowered shares of Methode Electronics from a b- rating to a c+ rating in a research report on Monday, September 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $31.75.

Methode Electronics stock opened at $30.59 on Monday. The company’s 50-day moving average price is $28.65 and its 200-day moving average price is $29.46. The company has a quick ratio of 2.96, a current ratio of 3.74 and a debt-to-equity ratio of 0.41. The company has a market cap of $1.15 billion, a PE ratio of 10.03 and a beta of 1.29. Methode Electronics has a twelve month low of $21.76 and a twelve month high of $41.70.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, September 3rd. The electronics maker reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.28. The company had revenue of $190.90 million for the quarter, compared to analysts’ expectations of $174.30 million. Methode Electronics had a return on equity of 14.14% and a net margin of 12.26%. The firm’s revenue for the quarter was down 29.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Thursday, October 15th. Methode Electronics’s payout ratio is presently 14.10%.

In other Methode Electronics news, COO Joseph Elias Khoury sold 25,000 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $26.84, for a total value of $671,000.00. Following the completion of the sale, the chief operating officer now directly owns 461,420 shares of the company’s stock, valued at approximately $12,384,512.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Advisors LP lifted its holdings in shares of Methode Electronics by 31.3% in the 1st quarter. First Trust Advisors LP now owns 55,130 shares of the electronics maker’s stock worth $1,587,000 after buying an additional 13,131 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Methode Electronics by 33.9% in the first quarter. Victory Capital Management Inc. now owns 40,199 shares of the electronics maker’s stock valued at $1,062,000 after acquiring an additional 10,167 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Methode Electronics by 3.6% in the first quarter. Nuveen Asset Management LLC now owns 310,823 shares of the electronics maker’s stock worth $8,215,000 after acquiring an additional 10,880 shares during the period. Deutsche Bank AG grew its holdings in Methode Electronics by 157.2% during the 1st quarter. Deutsche Bank AG now owns 31,681 shares of the electronics maker’s stock worth $837,000 after acquiring an additional 19,361 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Methode Electronics by 5.4% during the 1st quarter. Geode Capital Management LLC now owns 561,290 shares of the electronics maker’s stock valued at $14,834,000 after purchasing an additional 28,960 shares during the period. 93.69% of the stock is 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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