Methode Electronics (NYSE:MEI) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of Methode Electronics (NYSE:MEI) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday morning, ValuEngine reports.

MEI has been the subject of a number of other reports. TheStreet raised shares of Methode Electronics from a c+ rating to a b rating in a report on Wednesday, September 11th. Zacks Investment Research upgraded Methode Electronics from a sell rating to a hold rating in a report on Friday, November 1st. Finally, B. Riley set a $42.00 target price on Methode Electronics and gave the company a buy rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $40.25.

Shares of NYSE:MEI traded up $0.43 during mid-day trading on Tuesday, hitting $36.58. 1,137 shares of the company traded hands, compared to its average volume of 139,968. The firm’s 50 day simple moving average is $35.57 and its 200 day simple moving average is $30.87. The firm has a market cap of $1.38 billion, a P/E ratio of 12.33 and a beta of 1.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.88 and a current ratio of 2.55. Methode Electronics has a 52-week low of $20.99 and a 52-week high of $37.65.

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its position in shares of Methode Electronics by 2,682.2% in the 3rd quarter. Millennium Management LLC now owns 402,139 shares of the electronics maker’s stock worth $13,527,000 after purchasing an additional 387,685 shares during the last quarter. Barclays PLC raised its stake in shares of Methode Electronics by 38.7% in the 3rd quarter. Barclays PLC now owns 90,637 shares of the electronics maker’s stock valued at $3,050,000 after purchasing an additional 25,297 shares in the last quarter. Phocas Financial Corp. bought a new position in shares of Methode Electronics during the third quarter worth about $4,017,000. California State Teachers Retirement System lifted its position in shares of Methode Electronics by 1.2% during the third quarter. California State Teachers Retirement System now owns 56,952 shares of the electronics maker’s stock worth $1,916,000 after purchasing an additional 680 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in Methode Electronics in the third quarter worth about $2,588,000. 93.11% of the stock is owned by institutional investors.

Methode Electronics Company Profile

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.

See Also: Institutional Investors

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