Robert W. Baird Has Lowered Expectations for Methode Electronics (NYSE:MEI) Stock Price

Methode Electronics (NYSE:MEI) had its price objective cut by Robert W. Baird from $14.00 to $9.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the electronics maker’s stock. Robert W. Baird’s target price indicates a potential upside of 37.09% from the stock’s previous close.

Separately, Sidoti upgraded Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday, February 25th.

Methode Electronics Stock Down 5.9 %

Shares of MEI stock opened at $6.57 on Friday. The stock has a 50 day moving average of $11.11 and a 200 day moving average of $10.91. 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 market cap of $234.09 million, a P/E ratio of -2.59 and a beta of 0.77. Methode Electronics has a twelve month low of $6.26 and a twelve month high of $17.45.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. The firm had revenue of $239.90 million for the quarter, compared to analysts’ expectations of $264.01 million. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. As a group, sell-side analysts expect that Methode Electronics will post -0.4 EPS for the current year.

Institutional Trading of Methode Electronics

Large investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC grew its holdings in Methode Electronics by 263.2% in the 3rd quarter. Verition Fund Management LLC now owns 52,796 shares of the electronics maker’s stock valued at $631,000 after buying an additional 38,259 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Methode Electronics by 5.9% during the 3rd 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 period. Walleye Capital LLC grew its holdings in shares of Methode Electronics by 86.6% during the 3rd 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 period. Barclays PLC grew its holdings in shares of Methode Electronics by 112.3% during the 3rd 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 period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Methode Electronics during the 3rd quarter worth $1,466,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.