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

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

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

Methode Electronics Stock Up 8.2 %

Shares of NYSE MEI opened at $11.36 on Tuesday. Methode Electronics has a 12-month low of $8.54 and a 12-month high of $21.86. The company has a market cap 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. The stock has a fifty day moving average price of $11.52 and a 200 day moving average price of $10.97.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, December 5th. The electronics maker reported $0.14 earnings per share 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 period in the previous year, the company posted $0.06 earnings per share. Research analysts anticipate that Methode Electronics will post -0.4 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

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

Hedge Funds Weigh In On Methode Electronics

Large investors have recently modified their holdings of the stock. Verition Fund Management LLC lifted its position in shares of Methode Electronics by 263.2% during the third quarter. Verition Fund Management LLC now owns 52,796 shares of the electronics maker’s stock worth $631,000 after purchasing an additional 38,259 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Methode Electronics by 5.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,123,760 shares of the electronics maker’s stock worth $13,440,000 after purchasing an additional 62,470 shares during the last quarter. Walleye Capital LLC lifted its position in shares of Methode Electronics by 86.6% during the third quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock worth $3,999,000 after purchasing an additional 155,147 shares during the last quarter. Barclays PLC lifted its position in shares of Methode Electronics by 112.3% during the third quarter. Barclays PLC now owns 127,917 shares of the electronics maker’s stock worth $1,530,000 after purchasing an additional 67,656 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Methode Electronics during the third quarter worth about $1,466,000. Institutional investors own 95.49% of the company’s stock.

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.