FBR & Co. Just Issued “Outperform” Rating on Methode Electronics (MEI)

Methode Electronics (MEI) was Reiterated by FBR & Co. to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 55 from a previous price target of $50 . FBR & Co. advised their Clients and Investors in a research report released on Mar 3, 2017.

Based on several research reports , Company shares were Reiterated by FBR & Co. on Mar 3, 2017 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Company shares were Reiterated by FBR & Co. on Mar 3, 2017 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Company shares were Reiterated by FBR & Co. on Dec 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 50 from a previous price target of $42 .

On the company’s financial health, Methode Electronics reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Mar 2, 2017. Analyst had a consensus of $0.53. The company had revenue of $195.60 million for the quarter, compared to analysts expectations of $195.23 million. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Several company insiders have filed Insider transactions , on Dec 14, 2016, Joseph Elias Khoury (Vice President) sold 16,000 shares at $42.02 per share price. According to the SEC, on Dec 14, 2016, Donald W Duda (Chief Executive Officer) sold 100,000 shares at $43.14 per share price. On Dec 9, 2016, Paul G Shelton (director) sold 4,000 shares at $40.74 per share price, according to the Form-4 filing with the securities and exchange commission.

Methode Electronics opened for trading at $42 and hit $42.55 on the upside on Monday, eventually ending the session at $42.3, with a gain of 0.24% or 0.1 points. The heightened volatility saw the trading volume jump to 3,83,651 shares. Company has a market cap of $1,554 M.

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

You might also like

Leave a Reply

Your email address will not be published. Required fields are marked *