Methode Electronics’ (NYSE:MEI) Buy Rating Reiterated at FBR & Co

Methode Electronics, Inc. (NYSE:MEI)‘s stock had its “buy” rating reissued by equities researchers at FBR & Co in a report issued on Thursday, August 31st.

A number of other equities analysts also recently commented on MEI. Zacks Investment Research downgraded Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Robert W. Baird restated an “outperform” rating and issued a $47.00 price objective (down previously from $51.00) on shares of Methode Electronics in a report on Monday, June 19th. BidaskClub downgraded Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. B. Riley restated a “buy” rating and issued a $49.00 price objective on shares of Methode Electronics in a report on Friday, June 23rd. Finally, ValuEngine downgraded Methode Electronics from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Methode Electronics has a consensus rating of “Hold” and an average target price of $48.25.

Shares of Methode Electronics (NYSE MEI) traded up 1.15% on Thursday, reaching $39.50. 314,075 shares of the company’s stock were exchanged. Methode Electronics has a 12 month low of $29.85 and a 12 month high of $46.40. The firm’s 50 day moving average price is $38.77 and its 200-day moving average price is $41.27. The company has a market capitalization of $1.45 billion, a P/E ratio of 16.06 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Thursday, August 31st. The electronics maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.12. Methode Electronics had a return on equity of 18.11% and a net margin of 11.16%. The firm had revenue of $201.20 million for the quarter, compared to the consensus estimate of $189.40 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. On average, equities analysts anticipate that Methode Electronics will post $2.53 EPS for the current year.

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A number of hedge funds have recently made changes to their positions in MEI. Teachers Advisors LLC grew its holdings in Methode Electronics by 4.3% during the fourth quarter. Teachers Advisors LLC now owns 67,120 shares of the electronics maker’s stock valued at $2,775,000 after purchasing an additional 2,749 shares during the last quarter. Bank of Montreal Can grew its holdings in Methode Electronics by 307.0% during the first quarter. Bank of Montreal Can now owns 51,965 shares of the electronics maker’s stock valued at $2,369,000 after purchasing an additional 39,198 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Methode Electronics by 0.7% during the first quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the electronics maker’s stock valued at $684,000 after purchasing an additional 100 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Methode Electronics by 1.5% during the first quarter. State of Alaska Department of Revenue now owns 4,060 shares of the electronics maker’s stock valued at $185,000 after purchasing an additional 60 shares during the last quarter. Finally, Nationwide Fund Advisors grew its holdings in Methode Electronics by 6.0% during the first quarter. Nationwide Fund Advisors now owns 63,599 shares of the electronics maker’s stock valued at $2,900,000 after purchasing an additional 3,577 shares during the last quarter. Institutional investors own 90.21% of the company’s stock.

Methode Electronics Company Profile

Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.

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