Robert W. Baird Lowers Methode Electronics (NYSE:MEI) Price Target to $49.00

Methode Electronics (NYSE:MEI – Get Rating) had its target price decreased by equities researchers at Robert W. Baird from $52.00 to $49.00 in a report issued on Monday, The Fly reports. Robert W. Baird’s price target indicates a potential upside of 16.53% from the company’s current price.

Separately, Jefferies Financial Group began coverage on shares of Methode Electronics in a report on Tuesday, November 22nd. They issued a “buy” rating and a $52.00 target price on the stock.

Methode Electronics Stock Up 1.7 %

Shares of NYSE:MEI opened at $42.05 on Monday. The firm’s 50 day moving average price is $47.62 and its 200 day moving average price is $43.75. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 18.28 and a beta of 1.14. Methode Electronics has a fifty-two week low of $33.91 and a fifty-two week high of $51.38. The company has a quick ratio of 2.60, a current ratio of 3.51 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Methode Electronics

Several hedge funds have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC increased its stake in Methode Electronics by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 22,257 shares of the electronics maker’s stock valued at $988,000 after purchasing an additional 255 shares during the last quarter. QV Investors Inc. grew its position in shares of Methode Electronics by 5.2% during the fourth quarter. QV Investors Inc. now owns 5,910 shares of the electronics maker’s stock worth $262,000 after acquiring an additional 290 shares during the last quarter. Texas Permanent School Fund grew its position in shares of Methode Electronics by 1.2% during the second quarter. Texas Permanent School Fund now owns 26,732 shares of the electronics maker’s stock worth $990,000 after acquiring an additional 310 shares during the last quarter. Citigroup Inc. grew its position in shares of Methode Electronics by 0.9% during the first quarter. Citigroup Inc. now owns 37,354 shares of the electronics maker’s stock worth $1,616,000 after acquiring an additional 315 shares during the last quarter. Finally, Mission Wealth Management LP grew its position in shares of Methode Electronics by 1.6% during the fourth quarter. Mission Wealth Management LP now owns 21,341 shares of the electronics maker’s stock worth $947,000 after acquiring an additional 328 shares during the last quarter. 95.93% of the stock is currently owned by hedge funds and other institutional investors.

About Methode Electronics

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Methode Electronics, Inc engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers.