Methode Electronics (NYSE:MEI) Price Target Lowered to $27.00 at Robert W. Baird

Methode Electronics (NYSE:MEI) had its target price dropped by investment analysts at Robert W. Baird from $38.00 to $27.00 in a report issued on Friday, FlyOnTheWall reports. Robert W. Baird’s price objective points to a potential upside of 15.71% from the company’s current price.

Several other research firms have also issued reports on MEI. TheStreet lowered Methode Electronics from a “b” rating to a “c+” rating in a report on Thursday, June 22nd. StockNews.com initiated coverage on Methode Electronics in a report on Thursday, August 17th. They set a “hold” rating on the stock.

Methode Electronics Stock Performance

Shares of NYSE MEI opened at $23.34 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.91 and a quick ratio of 2.21. The stock’s fifty day moving average price is $32.31 and its two-hundred day moving average price is $38.79. Methode Electronics has a one year low of $23.05 and a one year high of $51.38. The firm has a market cap of $871.33 million, a price-to-earnings ratio of 11.17 and a beta of 1.04.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, June 22nd. The electronics maker reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Methode Electronics had a net margin of 6.54% and a return on equity of 8.30%. The firm had revenue of $301.20 million during the quarter, compared to analyst estimates of $301.60 million. On average, equities analysts forecast that Methode Electronics will post 1.55 EPS for the current year.

Institutional Trading of Methode Electronics

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new position in Methode Electronics in the second quarter valued at about $26,000. Covestor Ltd increased its stake in shares of Methode Electronics by 38.4% in the second quarter. Covestor Ltd now owns 1,327 shares of the electronics maker’s stock valued at $44,000 after buying an additional 368 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Methode Electronics in the first quarter valued at about $48,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Methode Electronics in the fourth quarter valued at about $53,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Methode Electronics in the second quarter valued at about $99,000. 89.02% of the stock is currently owned by institutional investors.

Methode Electronics Company Profile

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.