Methode Electronics Inc. (NYSE: MEI) is -21.21% lower on its value in year-to-date trading and has touched a low of $33.91 and a high of $49.94 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MEI stock was last observed hovering at around $38.57 in the last trading session, with the day’s gains setting it 0.17% off its average median price target of $49.50 for the next 12 months. It is also 34.34% off the consensus price target high of $59.00 offered by 3 analysts, but current levels are 3.15% higher than the price target low of $40.00 for the same period.
Currently trading at $38.74, the stock is 5.97% and -3.86% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.14 million and changing 0.44% at the moment leaves the stock -11.35% off its SMA200. MEI registered -16.20% loss for a year compared to 6-month loss of -15.43%. The firm has a 50-day simple moving average (SMA 50) of $1.31 and a 200-day simple moving average (SMA200) of $8.75.
The stock witnessed a 1.87% gain in the last 1 month and extending the period to 3 months gives it a -14.80%, and is 4.06% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.42% over the week and 2.82% over the month.
Methode Electronics Inc. (MEI) has around 7000 employees, a market worth around $1.49B and $1.16B in sales. Current P/E ratio is 14.36 and Fwd P/E is 11.02. Profit margin for the company is 8.80%. Distance from 52-week low is 14.24% and -22.43% from its 52-week high. The company has generated returns on investments over the last 12 months (9.40%).
Methode Electronics Inc. (MEI) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Methode Electronics Inc. (MEI) is a “Overweight”. 3 analysts offering their recommendations for the stock have an average rating of 2.30, where 2 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Methode Electronics Inc. is expected to release its quarterly report on 09/01/2022.The EPS is expected to shrink by -15.40% this year.
Methode Electronics Inc. (MEI) Top Institutional Holders
The shares outstanding are 36.60M, and float is at 35.85M with Short Float at 2.36%.
Methode Electronics Inc. (MEI) Insider Activity
A total of 14 insider transactions have happened at Methode Electronics Inc. (MEI) in the last six months, with sales accounting for 2 and purchases happening 12 times. The most recent transaction is an insider sale by Khoury Joseph Elias,the company’sChief Operating Officer. SEC filings show that Khoury Joseph Elias sold 8,000 shares of the company’s common stock on Jun 28 at a price of $38.55 per share for a total of $0.31 million. Following the sale, the insider now owns 0.4 million shares.
Methode Electronics Inc. disclosed in a document filed with the SEC on Dec 17 that SKATOFF LAWRENCE B (Director) sold a total of 800 shares of the company’s common stock. The trade occurred on Dec 17 and was made at $44.89 per share for $35912.0. Following the transaction, the insider now directly holds 37550.0 shares of the MEI stock.
Still, SEC filings show that on Dec 06, Khoury Joseph Elias (Chief Operating Officer) disposed off 20,000 shares at an average price of $45.45 for $0.91 million. The insider now directly holds 404,420 shares of Methode Electronics Inc. (MEI).
Methode Electronics Inc. (MEI): Who are the competitors?
The company’s main competitors (and peers) include Optical Cable Corporation (OCC) that is trading -21.81% down over the past 12 months and Applied Optoelectronics Inc. (AAOI) that is -77.41% lower over the same period. RF Industries Ltd. (RFIL) is -26.47% down on the 1-year trading charts.