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

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

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

Methode Electronics Price Performance

MEI opened at $6.57 on Friday. Methode Electronics has a 12-month low of $6.26 and a 12-month high of $17.45. 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 business’s fifty day simple moving average is $11.11 and its 200-day simple moving average is $10.91. The company has a market capitalization of $234.09 million, a price-to-earnings ratio of -2.59 and a beta of 0.77.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $264.01 million. During the same period in the previous year, the company posted ($0.33) EPS. On average, equities research analysts anticipate that Methode Electronics will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Methode Electronics

A number of institutional investors have recently added to or reduced their stakes in MEI. PharVision Advisers LLC acquired a new stake in Methode Electronics in the fourth quarter worth about $120,000. Virtus Fund Advisers LLC purchased a new position in shares of Methode Electronics in the fourth quarter worth about $38,000. Virtus Investment Advisers Inc. purchased a new position in shares of Methode Electronics in the fourth quarter worth about $189,000. Two Sigma Advisers LP raised its stake in shares of Methode Electronics by 15.8% in the fourth quarter. Two Sigma Advisers LP now owns 238,700 shares of the electronics maker’s stock worth $2,814,000 after purchasing an additional 32,500 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Methode Electronics by 11.5% in the fourth quarter. Two Sigma Investments LP now owns 387,218 shares of the electronics maker’s stock worth $4,565,000 after purchasing an additional 39,894 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Methode Electronics Company Profile

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.