Methode Electronics (NYSE:MEI) PT Lowered to $13.00 at Robert W. Baird

Methode Electronics (NYSE:MEI) had its price objective lowered by equities research analysts at Robert W. Baird from $15.00 to $13.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the electronics maker’s stock. Robert W. Baird’s price target would indicate a potential upside of 25.91% from the stock’s current price.

Methode Electronics Stock Up 2.6 %

Shares of NYSE:MEI opened at $10.33 on Friday. The firm has a market cap of $365.40 million, a P/E ratio of -2.96 and a beta of 0.71. The company has a quick ratio of 1.95, a current ratio of 2.76 and a debt-to-equity ratio of 0.43. Methode Electronics has a 12-month low of $8.54 and a 12-month high of $30.64. The business has a fifty day simple moving average of $11.20 and a 200 day simple moving average of $12.41.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, July 11th. The electronics maker reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The company had revenue of $277.30 million for the quarter, compared to the consensus estimate of $272.80 million. Methode Electronics had a negative return on equity of 1.78% and a negative net margin of 11.06%. Analysts predict that Methode Electronics will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its position in shares of Methode Electronics by 512.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,212 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 1,014 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Methode Electronics by 749.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,693 shares of the electronics maker’s stock valued at $59,000 after buying an additional 5,023 shares in the last quarter. Quest Partners LLC bought a new stake in Methode Electronics in the 4th quarter valued at about $242,000. Hennessy Advisors Inc. bought a new stake in Methode Electronics in the 2nd quarter valued at about $111,000. Finally, SG Americas Securities LLC bought a new stake in Methode Electronics in the 1st quarter valued at about $136,000. 95.49% of the stock is owned by institutional investors.

About Methode Electronics

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.