Methode Electronics (NYSE:MEI) Stock Rating Upgraded by Zacks Investment Research

Methode Electronics (NYSE:MEI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Methode Electronics, Inc. is a global manufacturer of electronic components and subsystems. Methode designs, manufactures and markets devices employing electrical, electronic, wireless, sensing and optical technologies. Methode’s components are found in the primary end-markets of the automotive, appliance, communications, aerospace, rail and other transportation industries, and the consumer and industrial equipment markets. “

Several other brokerages have also recently commented on MEI. Craig Hallum raised their price target on shares of Methode Electronics from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. ValuEngine lowered shares of Methode Electronics from a “sell” rating to a “strong sell” rating in a report on Monday, May 18th. TheStreet upgraded shares of Methode Electronics from a “c” rating to a “b-” rating in a report on Tuesday, May 26th. B. Riley lowered shares of Methode Electronics from a “buy” rating to a “neutral” rating and cut their price target for the stock from $42.00 to $24.00 in a research note on Thursday, March 19th. Finally, Robert W. Baird cut their price target on shares of Methode Electronics from $43.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Methode Electronics currently has a consensus rating of “Hold” and an average target price of $33.00.

Methode Electronics stock opened at $31.00 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.84 and a quick ratio of 2.06. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 10.10 and a beta of 1.40. The firm has a 50 day simple moving average of $31.26 and a 200-day simple moving average of $32.52. Methode Electronics has a 1-year low of $21.76 and a 1-year high of $41.70.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mason Street Advisors LLC raised its position in Methode Electronics by 2.6% during the fourth quarter. Mason Street Advisors LLC now owns 12,919 shares of the electronics maker’s stock worth $508,000 after acquiring an additional 325 shares during the last quarter. First National Bank of Omaha raised its position in Methode Electronics by 1.2% during the first quarter. First National Bank of Omaha now owns 30,029 shares of the electronics maker’s stock worth $794,000 after acquiring an additional 350 shares during the last quarter. Advisor Group Inc. raised its position in Methode Electronics by 10.2% during the fourth quarter. Advisor Group Inc. now owns 3,953 shares of the electronics maker’s stock worth $156,000 after acquiring an additional 367 shares during the last quarter. Baird Financial Group Inc. raised its position in Methode Electronics by 1.7% during the fourth quarter. Baird Financial Group Inc. now owns 36,627 shares of the electronics maker’s stock worth $1,441,000 after acquiring an additional 607 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Methode Electronics during the fourth quarter worth about $25,000. Institutional investors own 93.25% 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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