Robert W. Baird Raises Methode Electronics (NYSE:MEI) Price Target to $16.00

Methode Electronics (NYSE:MEI) had its target price raised by research analysts at Robert W. Baird from $13.00 to $16.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the electronics maker’s stock. Robert W. Baird’s price objective would indicate a potential upside of 25.69% from the company’s current price.

Separately, StockNews.com raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th.

Methode Electronics Stock Down 9.2 %

NYSE MEI opened at $12.73 on Friday. Methode Electronics has a twelve month low of $8.54 and a twelve month high of $23.41. The stock has a market cap of $448.61 million, a PE ratio of -5.03 and a beta of 0.81. The firm has a 50-day simple moving average of $10.41 and a 200 day simple moving average of $10.79. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.50 and a current ratio of 2.35.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, December 5th. The electronics maker reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. During the same period in the prior year, the company posted $0.06 earnings per share. On average, research analysts forecast that Methode Electronics will post -0.47 EPS for the current year.

Insider Buying and Selling at Methode Electronics

In other news, Director David P. Blom purchased 9,320 shares of Methode Electronics stock in a transaction on Wednesday, September 18th. The shares were purchased at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the transaction, the director now directly owns 37,531 shares in the company, valued at approximately $405,710.11. This represents a 33.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary A. Lindsey acquired 8,800 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were purchased at an average cost of $11.38 per share, with a total value of $100,144.00. Following the acquisition, the director now owns 25,970 shares of the company’s stock, valued at approximately $295,538.60. This represents a 51.25 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Methode Electronics

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its stake in shares of Methode Electronics by 4.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,910 shares of the electronics maker’s stock valued at $328,000 after buying an additional 1,163 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 acquiring an additional 5,023 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Methode Electronics during the second quarter worth approximately $111,000. SummerHaven Investment Management LLC lifted its position in shares of Methode Electronics by 6.0% during the second quarter. SummerHaven Investment Management LLC now owns 22,474 shares of the electronics maker’s stock worth $233,000 after purchasing an additional 1,281 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Methode Electronics during the second quarter valued at approximately $337,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

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.