Methode Electronics (MEI) Receives “Buy” Rating from B. Riley

Methode Electronics (NYSE:MEI)‘s stock had its “buy” rating restated by equities research analysts at B. Riley in a note issued to investors on Tuesday. They currently have a $49.00 target price on the electronics maker’s stock. B. Riley’s target price would suggest a potential upside of 7.69% from the company’s previous close.

Several other equities research analysts have also issued reports on MEI. BidaskClub upgraded shares of Methode Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Robert W. Baird reiterated a “buy” rating and issued a $46.00 price target on shares of Methode Electronics in a research note on Tuesday, October 17th. Zacks Investment Research lowered shares of Methode Electronics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. ValuEngine lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Finally, FBR & Co reiterated a “buy” rating on shares of Methode Electronics in a research note on Thursday, August 31st. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.50.

Shares of Methode Electronics (NYSE:MEI) traded down $0.20 during mid-day trading on Tuesday, reaching $45.50. 189,800 shares of the company’s stock traded hands, compared to its average volume of 216,168. The company has a quick ratio of 3.81, a current ratio of 4.32 and a debt-to-equity ratio of 0.08. Methode Electronics has a 12-month low of $36.05 and a 12-month high of $48.44. The firm has a market cap of $1,682.22, a price-to-earnings ratio of 17.71, a P/E/G ratio of 1.18 and a beta of 0.76.

Hedge funds have recently modified their holdings of the business. Acrospire Investment Management LLC increased its stake in shares of Methode Electronics by 22.2% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,751 shares of the electronics maker’s stock worth $113,000 after purchasing an additional 500 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of Methode Electronics by 87.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,996 shares of the electronics maker’s stock worth $123,000 after purchasing an additional 1,396 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Methode Electronics during the 2nd quarter worth about $132,000. Victory Capital Management Inc. increased its stake in shares of Methode Electronics by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,565 shares of the electronics maker’s stock worth $147,000 after purchasing an additional 536 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Methode Electronics during the 2nd quarter worth about $156,000. Hedge funds and other institutional investors own 89.95% of the company’s stock.

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About Methode Electronics

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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