Baird Upgrades Methode Electronics to Outperform

Brokerage firm Baird Upgrades its rating on Methode Electronics(NYSE:MEI). The shares have been rated Outperform. Previously, the analysts had a Neutral rating on the shares. The rating by Baird was issued on Jun 24, 2016.

Methode Electronics (MEI) made into the market gainers list on Wednesdays trading session with the shares advancing 2.58% or 0.83 points. Due to strong positive momentum, the stock ended at $32.97, which is also near the day’s high of $33.06. The stock began the session at $32.75 and the volume stood at 5,35,356 shares. The 52-week high of the shares is $37.25 and the 52 week low is $22.67. The company has a current market capitalization of $1,214 M and it has 3,68,35,361 shares in outstanding.

Methode Electronics(MEI) last announced its earnings results on Jun 23, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $212.80M. Analysts had an estimated revenue of $200.05M. Earnings per share were $0.60. Analysts had estimated an EPS of $0.53.

Several Insider Transactions has been reported to the SEC. On Dec 17, 2015, Ronald L.g. Tsoumas (Controller & Treasurer) sold 28,384 shares at $32.04 per share price.Also, On Sep 25, 2015, Walter J Aspatore (director) sold 8,000 shares at $32.08 per share price.On Sep 11, 2015, Warren L Batts (director) purchased 30,553 shares at $32.03 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.

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