Methode Electronics (NYSE:MEI) Rating Lowered to Hold at Zacks Investment Research

Methode Electronics (NYSE:MEIGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, 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. “

A number of other equities analysts also recently commented on the company. StockNews.com downgraded Methode Electronics from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. Barrington Research assumed coverage on Methode Electronics in a research note on Thursday, January 20th. They set a “market perform” rating for the company.

Shares of Methode Electronics stock opened at $45.71 on Thursday. Methode Electronics has a one year low of $40.83 and a one year high of $50.19. The company has a market cap of $1.69 billion, a PE ratio of 14.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.32 and a current ratio of 3.14. The business has a 50-day simple moving average of $43.71 and a 200-day simple moving average of $45.12.

Methode Electronics (NYSE:MEIGet Rating) last announced its quarterly earnings data on Thursday, March 3rd. The electronics maker reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. Methode Electronics had a return on equity of 12.75% and a net margin of 9.96%. The business had revenue of $291.60 million during the quarter, compared to the consensus estimate of $275.00 million. During the same period in the previous year, the company posted $0.83 earnings per share. On average, sell-side analysts predict that Methode Electronics will post 3.1 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of MEI. Covestor Ltd purchased a new stake in Methode Electronics in the fourth quarter valued at approximately $48,000. New Century Advisors LLC purchased a new stake in Methode Electronics in the fourth quarter valued at approximately $49,000. First Citizens Bank & Trust Co. purchased a new stake in Methode Electronics in the fourth quarter valued at approximately $202,000. Csenge Advisory Group purchased a new stake in Methode Electronics in the fourth quarter valued at approximately $208,000. Finally, Teacher Retirement System of Texas lifted its stake in Methode Electronics by 23.6% in the third quarter. Teacher Retirement System of Texas now owns 6,053 shares of the electronics maker’s stock valued at $255,000 after buying an additional 1,154 shares during the last quarter. Institutional investors own 95.41% of the company’s stock.

About Methode Electronics (Get Rating)

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices 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.

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