Robert W. Baird Issues Pessimistic Forecast for Methode Electronics (NYSE:MEI) Stock Price

Methode Electronics (NYSE:MEI - Get Free Report) had its target price cut by equities researchers at Robert W. Baird from $14.00 to $9.00 in a research report issued on Friday, Marketbeat.com reports. The brokerage currently has a "neutral" rating on the electronics maker's stock. Robert W. Baird's target price suggests a potential upside of 40.08% from the company's previous close.

Separately, Sidoti upgraded shares of Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 price objective on the stock in a research note on Tuesday, February 25th.

Methode Electronics Stock Up 5.2 %

Shares of Methode Electronics stock traded up $0.32 on Friday, reaching $6.43. The company's stock had a trading volume of 631,718 shares, compared to its average volume of 403,970. Methode Electronics has a 52 week low of $5.84 and a 52 week high of $17.45. The firm's fifty day simple moving average is $11.00 and its two-hundred day simple moving average is $10.88. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $229.10 million, a price-to-earnings ratio of -2.54 and a beta of 0.77.

Methode Electronics (NYSE:MEI - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The business had revenue of $239.90 million during the quarter, compared to the consensus estimate of $264.01 million. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same quarter in the previous year, the business posted ($0.33) earnings per share. Equities analysts anticipate that Methode Electronics will post -0.4 earnings per share for the current year.

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Institutional Trading of Methode Electronics

Hedge funds have recently bought and sold shares of the stock. PharVision Advisers LLC bought a new position in shares of Methode Electronics in the fourth quarter worth about $120,000. Virtus Fund Advisers LLC bought a new position in shares of Methode Electronics during the 4th quarter valued at approximately $38,000. Virtus Investment Advisers Inc. bought a new stake in Methode Electronics during the 4th quarter worth approximately $189,000. Two Sigma Advisers LP raised its stake in Methode Electronics by 15.8% during the 4th quarter. Two Sigma Advisers LP now owns 238,700 shares of the electronics maker's stock worth $2,814,000 after acquiring an additional 32,500 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in Methode Electronics by 11.5% during the fourth quarter. Two Sigma Investments LP now owns 387,218 shares of the electronics maker's stock valued at $4,565,000 after purchasing an additional 39,894 shares in the last quarter. 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.