Methode Electronics (NYSE:MEI) Shares Down 6% – Time to Sell?

Methode Electronics, Inc. (NYSE:MEI )'s share price was down 6% during mid-day trading on Tuesday . The company traded as low as $14.55 and last traded at $14.7490. 125,004 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 678,537 shares. The stock had previously closed at $15.69. Several equities analysts have recently issued reports on the company. Sidoti reaffirmed a 'neutral' rating and set a $17.00 price target on shares of Methode Electronics in a research note on Friday, June 26th. Robert W. Baird upped their price objective on shares of Methode Electronics from $8.50 to $16.00 and gave the company a 'neutral' rating in a research report on Friday, June 26th. Barrington Research upgraded Methode Electronics from a 'market perform' rating to an 'outperform' rating and set a $25.00 target price on the stock in a report on Monday, June 29th. Wall Street Zen cut Methode Electronics from a 'buy' rating to a 'hold' rating in a research note on Sunday, August 2nd. Finally, Zacks Research upgraded Methode Electronics from a 'strong sell' rating to a 'hold' rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Methode Electronics currently has an average rating of 'Hold' and an average target price of $22.00. Get Our Latest Analysis on Methode Electronics Methode Electronics (NYSE:MEI ) last issued its earnings results on Wednesday, September 2nd. The electronics maker reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.05. Methode Electronics had a negative net margin of 3.52% and a negative return on equity of 5.63%. The business had revenue of $265.40 million for the quarter, compared to the consensus estimate of $238.31 million. As a group, sell-side analysts forecast that Methode Electronics, Inc. will post -0.95 earnings per share for the current fiscal year. The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, July 17th. Methode Electronics's payout ratio is presently -19.23%. Large investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in Methode Electronics by 391.0% during the second quarter. California State Teachers Retirement System now owns 8,878 shares of the electronics maker's stock valued at $168,000 after purchasing an additional 7,070 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Methode Electronics during the 2nd quarter worth $549,000. Wellington Management Group LLP acquired a new stake in Methode Electronics in the second quarter valued at about $1,658,000. Empowered Funds LLC bought a new position in Methode Electronics in the second quarter valued at about $11,882,000. Finally, Bank of America Corp DE acquired a new position in Methode Electronics during the second quarter worth about $1,911,000. 95.49% of the stock is currently owned by institutional investors and hedge funds. Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company's product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications. In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.