StockNews.com began coverage on shares of Methode Electronics (NYSE:MEI – Get Rating) in a report published on Thursday morning. The brokerage issued a buy rating on the electronics maker’s stock.
Several other research analysts have also weighed in on the company. Robert W. Baird cut their target price on Methode Electronics from $52.00 to $49.00 in a research report on Monday, March 13th. Jefferies Financial Group began coverage on Methode Electronics in a research report on Tuesday, November 22nd. They issued a buy rating and a $52.00 target price on the stock.
Methode Electronics Trading Down 2.2 %
Shares of Methode Electronics stock traded down $0.91 during trading hours on Thursday, reaching $40.92. 806,315 shares of the company’s stock were exchanged, compared to its average volume of 176,061. The company has a current ratio of 3.51, a quick ratio of 2.60 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 17.79 and a beta of 1.14. The company has a fifty day moving average of $47.33 and a 200-day moving average of $43.73. Methode Electronics has a 52-week low of $33.91 and a 52-week high of $51.38.
Methode Electronics Announces Dividend
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. raised its position in Methode Electronics by 57.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 51,055 shares of the electronics maker’s stock valued at $2,265,000 after purchasing an additional 18,624 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Methode Electronics in the fourth quarter valued at about $53,000. State of Tennessee Treasury Department raised its position in Methode Electronics by 8.0% in the fourth quarter. State of Tennessee Treasury Department now owns 23,206 shares of the electronics maker’s stock valued at $1,030,000 after purchasing an additional 1,726 shares during the period. Squarepoint Ops LLC raised its position in Methode Electronics by 372.1% in the fourth quarter. Squarepoint Ops LLC now owns 27,664 shares of the electronics maker’s stock valued at $1,227,000 after purchasing an additional 21,804 shares during the period. Finally, Legal & General Group Plc raised its position in Methode Electronics by 2.0% in the fourth quarter. Legal & General Group Plc now owns 107,265 shares of the electronics maker’s stock valued at $4,759,000 after purchasing an additional 2,054 shares during the period. 95.93% of the stock is owned by hedge funds and other institutional investors.
Methode Electronics Company Profile
Methode Electronics, Inc engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers.
- Get a free copy of the StockNews.com research report on Methode Electronics (MEI)
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