Some Traders See Unusual Bullish Options Activity in Methode Electronics Inc.

 Some Traders See Unusual Bullish Options Activity in Methode Electronics Inc.

In today’s session Methode Electronics Inc. (MEI) registered an unusually high (258) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious MEI increase. With 258 contracts traded and 804 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: MEI161216C00040000 closed last at: $1.45 or 12.1% down. About 43,041 shares traded hands. Methode Electronics Inc. (NYSE:MEI) has risen 21.55% since April 28, 2016 and is uptrending. It has outperformed by 15.62% the S&P500.

Analysts await Methode Electronics Inc. (NYSE:MEI) to report earnings on December, 8. They expect $0.55 earnings per share, up 1.85% or $0.01 from last year’s $0.54 per share. MEI’s profit will be $20.12M for 17.02 P/E if the $0.55 EPS becomes a reality. After $0.57 actual earnings per share reported by Methode Electronics Inc. for the previous quarter, Wall Street now forecasts -3.51% negative EPS growth.

Methode Electronics Inc. (NYSE:MEI) Ratings Coverage

Out of 2 analysts covering Methode Electronics (NYSE:MEI), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $45 is the highest target while $37 is the lowest. The $41 average target is 9.48% above today’s ($37.45) stock price. Methode Electronics has been the topic of 3 analyst reports since September 4, 2015 according to StockzIntelligence Inc. Robert W. Baird upgraded the stock to “Outperform” rating in Friday, June 24 report. Craig Hallum upgraded it to “Buy” rating and $40 target price in Friday, September 4 report. The stock has “Hold” rating given by Craig Hallum on Friday, September 2.

According to Zacks Investment Research, “Methode Electronics, Inc. manufactures component devices world-wide for Original Equipment Manufacturers of information processing and networking equipment, voice and data communications systems, consumer electronics, automobiles, aerospace vehicles and industrial equipment. Products employ electrical, electronic and optical technologies as sensors, interconnections and controls. The company manufactures bus systems and provides independent laboratory services for qualification testing and certification of electronic and optical components.”

Methode Electronics, Inc. is a maker of component and subsystem devices. The company has a market cap of $1.37 billion. The Firm designs, makes and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. It has a 17.33 P/E ratio. The Firm operates through divisions, including Automotive, Interface, Power Products and Other.

MEI Company Profile

Methode Electronics, Inc. (Methode), incorporated on April 27, 1966, is a maker of component and subsystem devices. The Firm designs, makes and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Firm operates through divisions, including Automotive, Interface, Power Products and Other. The Firm has manufacturing, design and testing facilities in China, Egypt, Germany, India, Italy, Lebanon, Malta, Mexico, Singapore, Switzerland, the United Kingdom and the United States. The Company’s components are found in end markets of the aerospace, appliance, automotive, battery storage, construction, consumer and industrial equipment, communications (including information processing and storage, medical device, networking equipment, wireless and terrestrial voice/data systems), rail and other transportation industries.

More news for Methode Electronics Inc. (NYSE:MEI) were recently published by: Fool.com, which released: “Why Methode Electronics, Inc. Jumped More Than 20% Thursday” on September 03, 2015. Fool.com‘s article titled: “Why Shares of Methode Electronics Inc. Fell More Than 30% Today” and published on June 25, 2015 is yet another important article.

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