Methode Electronics (NYSE:MEI) Upgraded by Sidoti to “Buy” Rating

Sidoti upgraded shares of Methode Electronics (NYSE:MEI) from a neutral rating to a buy rating in a report published on Tuesday, MarketBeat reports. Sidoti currently has $14.00 price target on the electronics maker’s stock.

Separately, Robert W. Baird raised their price objective on shares of Methode Electronics from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, December 6th.

Methode Electronics Price Performance

Shares of NYSE:MEI opened at $11.36 on Tuesday. The firm’s 50 day moving average is $11.52 and its two-hundred day moving average is $10.97. Methode Electronics has a 52 week low of $8.54 and a 52 week high of $21.86. The firm has a market capitalization of $405.03 million, a P/E ratio of -4.49 and a beta of 0.76. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, December 5th. The electronics maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.31. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same quarter last year, the firm earned $0.06 EPS. Analysts anticipate that Methode Electronics will post -0.4 earnings per share for the current year.

Methode Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Friday, January 17th. Methode Electronics’s payout ratio is -22.13%.

Institutional Trading of Methode Electronics

Large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Methode Electronics during the fourth quarter worth approximately $32,000. Virtus Fund Advisers LLC bought a new stake in Methode Electronics during the fourth quarter worth approximately $38,000. AlphaQuest LLC boosted its holdings in Methode Electronics by 196.8% during the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock worth $53,000 after buying an additional 2,990 shares in the last quarter. PharVision Advisers LLC bought a new stake in Methode Electronics during the fourth quarter worth approximately $120,000. Finally, Diversified Trust Co bought a new stake in Methode Electronics during the fourth quarter worth approximately $126,000. 95.49% of the stock is currently 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.