Methode Electronics (MEI) Given a $25.00 Price Target by Craig Hallum Analysts

Craig Hallum set a $25.00 price objective on Methode Electronics (NYSE:MEI) in a research report report published on Friday, The Fly reports. The brokerage currently has a hold rating on the electronics maker’s stock. The analysts noted that the move was a valuation call.

Several other research analysts have also weighed in on the company. Zacks Investment Research raised Methode Electronics from a sell rating to a hold rating in a research report on Wednesday, August 22nd. ValuEngine lowered Methode Electronics from a hold rating to a sell rating in a research report on Thursday, September 6th. Robert W. Baird lowered Methode Electronics from an outperform rating to a neutral rating in a research report on Monday, October 1st. Finally, TheStreet lowered Methode Electronics from a b- rating to a c+ rating in a research report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Methode Electronics has an average rating of Hold and a consensus target price of $37.00.

Shares of NYSE MEI traded down $1.00 during mid-day trading on Friday, hitting $24.01. 1,003,110 shares of the company traded hands, compared to its average volume of 287,978. Methode Electronics has a 1 year low of $23.40 and a 1 year high of $45.45. The company has a market cap of $925.02 million, a price-to-earnings ratio of 8.00 and a beta of 1.21. The company has a quick ratio of 3.18, a current ratio of 2.56 and a debt-to-equity ratio of 0.53.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, December 6th. The electronics maker reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Methode Electronics had a return on equity of 19.33% and a net margin of 5.27%. The business had revenue of $264.00 million during the quarter, compared to the consensus estimate of $269.57 million. Methode Electronics’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, sell-side analysts expect that Methode Electronics will post 2.9 EPS for the current fiscal year.

In related news, Director Isabelle C. Goossen sold 2,500 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $39.32, for a total transaction of $98,300.00. Following the transaction, the director now directly owns 40,450 shares of the company’s stock, valued at $1,590,494. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in Methode Electronics by 4.2% in the 3rd quarter. BlackRock Inc. now owns 5,282,696 shares of the electronics maker’s stock worth $191,234,000 after purchasing an additional 213,899 shares during the last quarter. Vanguard Group Inc. increased its position in Methode Electronics by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,638,598 shares of the electronics maker’s stock worth $131,718,000 after purchasing an additional 84,173 shares during the last quarter. Royce & Associates LP increased its position in Methode Electronics by 18.5% in the 3rd quarter. Royce & Associates LP now owns 1,504,808 shares of the electronics maker’s stock worth $54,474,000 after purchasing an additional 234,559 shares during the last quarter. LSV Asset Management increased its position in Methode Electronics by 8.5% in the 3rd quarter. LSV Asset Management now owns 1,169,325 shares of the electronics maker’s stock worth $42,329,000 after purchasing an additional 91,923 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Methode Electronics by 5.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,015,374 shares of the electronics maker’s stock worth $40,919,000 after purchasing an additional 53,264 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors.

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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