Methode Electronics (MEI) is Downgraded by Craig Hallum to Hold, Lowers Price Target to $ 37

Methode Electronics (MEI) was Downgraded by Craig Hallum to ” Hold” while Lowering the Price Target of the company shares to $ 37 from a previous price target of $37 . Earlier the firm had a rating of “Buy ” on the company shares. Craig Hallum advised their investors in a research report released on Sep 2, 2016.

Many Wall Street Analysts have commented on Methode Electronics. Company shares were Upgraded by Robert W. Baird on Jun 24, 2016 to ” Outperform”, Firm has raised the Price Target to $ 45 from a previous price target of $35 .

On the company’s financial health, Methode Electronics reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Sep 1, 2016. Analyst had a consensus of $0.53. The company had revenue of $191.90 million for the quarter, compared to analysts expectations of $203.06 million. The company’s revenue was down -5.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.60 EPS.

Methode Electronics closed down -2.62 points or -7.15% at $34.03 with 6,27,561 shares getting traded on Thursday. Post opening the session at $36.08, the shares hit an intraday low of $33.7 and an intraday high of $36.85 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Aug 11, 2016, Paul G Shelton (director) sold 2,150 shares at $36.06 per share price. According to the SEC, on Jul 6, 2016, Douglas A Koman (CFO) purchased 519 shares at $0.00 per share price. On Jul 6, 2016, Kill Theodore (VP Worldwide Auto Sales) sold 4,000 shares at $34.29 per share price, according to the Form-4 filing with the securities and exchange commission.

Methode Electronics Inc. (Methode) is a global manufacturer of component and subsystem devices. The Company designs manufactures and markets devices employing electrical radio remote control electronic wireless and sensing technologies. It operates through segments including Automotive Interface Power Products and Other. The Automotive segment supplies electronic and electro-mechanical devices and related products to automobile original equipment manufacturers. The Interface segment provides a range of copper and fiber-optic interface and interface solutions for the aerospace appliance commercial computer construction consumer material handling medical military mining networking storage and telecommunications markets. The Power Products segment manufactures braided flexible cables and current-carrying laminated bus devices among others. The Other segment includes medical devices inverters and battery systems and insulated gate bipolar transistor solutions.

Methode Electronics

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