Methode Electronics (NYSE:MEI) Given Neutral Rating at Sidoti

Methode Electronics (NYSE:MEI)‘s stock had its “neutral” rating reissued by stock analysts at Sidoti in a report released on Friday,Benzinga reports. They presently have a $17.00 price objective on the electronics maker’s stock. Sidoti’s target price points to a potential downside of 6.36% from the stock’s current price.

Several other brokerages have also issued reports on MEI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research note on Tuesday, April 21st. Robert W. Baird lifted their price objective on Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Methode Electronics currently has a consensus rating of “Reduce” and an average price target of $16.50.

Methode Electronics Stock Up 38.7%

Shares of MEI opened at $18.15 on Friday. The company has a market capitalization of $643.20 million, a P/E ratio of -17.97 and a beta of 1.59. Methode Electronics has a one year low of $4.88 and a one year high of $18.47. The business’s 50 day simple moving average is $10.68 and its 200-day simple moving average is $8.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.41 and a quick ratio of 1.55.

Methode Electronics (NYSE:MEI) last announced its earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The company had revenue of $298.10 million for the quarter, compared to analyst estimates of $238.46 million. Methode Electronics had a negative return on equity of 5.58% and a negative net margin of 3.50%. As a group, sell-side analysts predict that Methode Electronics will post -0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MEI. JPMorgan Chase & Co. lifted its holdings in Methode Electronics by 51.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 291,065 shares of the electronics maker’s stock worth $2,198,000 after purchasing an additional 99,308 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in Methode Electronics by 84.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 162,766 shares of the electronics maker’s stock valued at $1,229,000 after buying an additional 74,701 shares in the last quarter. Penn Capital Management Company LLC acquired a new position in Methode Electronics in the 3rd quarter valued at $1,340,000. 4D Advisors LLC bought a new position in Methode Electronics during the 4th quarter worth $3,320,000. Finally, Hsbc Holdings PLC increased its position in Methode Electronics by 12.5% during the 4th quarter. Hsbc Holdings PLC now owns 138,125 shares of the electronics maker’s stock worth $916,000 after buying an additional 15,384 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

About Methode Electronics

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.