Additionally, the 36-month beta value for MEI is 0.79. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 1 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
The public float for MEI is 33.06M and currently, short sellers hold a 6.84% ratio of that float. The average trading volume of MEI on May 08, 2024 was 591.91K shares.
MEI) stock’s latest price update
The stock of Methode Electronics, Inc. (NYSE: MEI) has decreased by -9.55 when compared to last closing price of 12.56.Despite this, the company has seen a loss of -6.81% in its stock price over the last five trading days. GlobeNewsWire reported 2024-02-22 that CHICAGO, Feb. 22, 2024 (GLOBE NEWSWIRE) — Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its third quarter fiscal 2024 results for the period ended January 27, 2024, on Thursday, March 7, 2024, before the market opens.
MEI’s Market Performance
MEI’s stock has fallen by -6.81% in the past week, with a monthly drop of -9.70% and a quarterly drop of -46.01%. The volatility ratio for the week is 4.66% while the volatility levels for the last 30 days are 4.20% for Methode Electronics, Inc. The simple moving average for the past 20 days is -7.16% for MEI’s stock, with a -48.24% simple moving average for the past 200 days.
Analysts’ Opinion of MEI
Many brokerage firms have already submitted their reports for MEI stocks, with Jefferies repeating the rating for MEI by listing it as a “Hold.” The predicted price for MEI in the upcoming period, according to Jefferies is $12 based on the research report published on April 09, 2024 of the current year 2024.
Sidoti, on the other hand, stated in their research note that they expect to see MEI reach a price target of $17. The rating they have provided for MEI stocks is “Neutral” according to the report published on March 07th, 2024.
Jefferies gave a rating of “Buy” to MEI, setting the target price at $52 in the report published on November 22nd of the previous year.
MEI Trading at -17.23% from the 50-Day Moving Average
After a stumble in the market that brought MEI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -75.61% of loss for the given period.
Volatility was left at 4.20%, however, over the last 30 days, the volatility rate increased by 4.66%, as shares sank -9.91% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -46.42% lower at present.
During the last 5 trading sessions, MEI fell by -6.81%, which changed the moving average for the period of 200-days by -64.96% in comparison to the 20-day moving average, which settled at $12.17. In addition, Methode Electronics, Inc. saw -50.02% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MEI starting from DUDA DONALD W, who purchase 23,245 shares at the price of $21.80 back on Sep 21 ’23. After this action, DUDA DONALD W now owns 23,245 shares of Methode Electronics, Inc., valued at $506,636 using the latest closing price.
ASPATORE WALTER J, the Director of Methode Electronics, Inc., purchase 1,000 shares at $22.50 during a trade that took place back on Sep 20 ’23, which means that ASPATORE WALTER J is holding 19,000 shares at $22,500 based on the most recent closing price.
Stock Fundamentals for MEI
Current profitability levels for the company are sitting at:
- -0.04 for the present operating margin
- 0.18 for the gross margin
The net margin for Methode Electronics, Inc. stands at -0.05. The total capital return value is set at -0.03. Equity return is now at value -6.51, with -3.97 for asset returns.
Based on Methode Electronics, Inc. (MEI), the company’s capital structure generated 0.3 points at debt to capital in total, while cash flow to debt ratio is standing at 0.2. The debt to equity ratio resting at 0.43. The interest coverage ratio of the stock is -3.09.
Currently, EBITDA for the company is 142.3 million with net debt to EBITDA at 3.4. When we switch over and look at the enterprise to sales, we see a ratio of 0.56. The receivables turnover for the company is 4.01for trailing twelve months and the total asset turnover is 0.76. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.74.
Conclusion
In conclusion, Methode Electronics, Inc. (MEI) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
