Methode Electronics Inc. (MEI) Given Average Rating of “Hold” by Brokerages

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Shares of Methode Electronics Inc. (NYSE:MEI) have been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $49.00.

Several brokerages have commented on MEI. Zacks Investment Research lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. ValuEngine upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research note on Thursday, May 17th. Robert W. Baird reiterated an “outperform” rating and issued a $51.00 price target (up from $48.00) on shares of Methode Electronics in a research note on Friday, March 2nd. Finally, TheStreet lowered shares of Methode Electronics from a “b” rating to a “c+” rating in a research note on Friday, March 2nd.

NYSE:MEI traded up $0.35 during mid-day trading on Thursday, hitting $42.05. The stock had a trading volume of 157,944 shares, compared to its average volume of 208,421. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 0.88 and a beta of 0.84. Methode Electronics has a twelve month low of $36.05 and a twelve month high of $48.44. The company has a quick ratio of 3.47, a current ratio of 4.03 and a debt-to-equity ratio of 0.19.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Methode Electronics by 1.6% in the first quarter. BlackRock Inc. now owns 4,645,219 shares of the electronics maker’s stock valued at $181,629,000 after purchasing an additional 74,887 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Methode Electronics by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,055,779 shares of the electronics maker’s stock worth $80,381,000 after acquiring an additional 16,560 shares during the last quarter. Westwood Holdings Group Inc. grew its position in shares of Methode Electronics by 5.3% during the first quarter. Westwood Holdings Group Inc. now owns 1,436,624 shares of the electronics maker’s stock worth $56,172,000 after acquiring an additional 72,349 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of Methode Electronics by 0.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,237,302 shares of the electronics maker’s stock worth $48,378,000 after acquiring an additional 4,506 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its position in shares of Methode Electronics by 41.6% during the first quarter. Wedge Capital Management L L P NC now owns 637,419 shares of the electronics maker’s stock worth $24,923,000 after acquiring an additional 187,245 shares during the last quarter. Institutional investors own 92.50% of the company’s stock.

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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