Zacks Investment Research Upgrades Kimball Electronics Inc. (KE) to Strong-Buy
Kimball Electronics Inc. (NASDAQ:KE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday. The firm currently has a $17.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 7.94% from the company’s current price.
According to Zacks, “Kimball Electronics Inc. operates as a contract manufacturer of durable goods electronics. The Company specializes in durable electronics for the medical, automotive, industrial and public safety markets. It provides design, engineering, manufacturing, packaging, and distribution of electronic assemblies and circuit boards on a contract basis to a variety of industries. The Company has manufacturing operations primarily in the United States, Mexico, Thailand, Poland, and China. Kimball Electronics Inc. is headquartered in Jasper, Indiana. “
Several other equities research analysts have also recently weighed in on KE. B. Riley reiterated a “buy” rating and issued a $12.75 target price on shares of Kimball Electronics in a research note on Tuesday, August 2nd. TheStreet upgraded shares of Kimball Electronics from a “hold” rating to a “buy” rating in a research note on Monday, October 31st.
Shares of Kimball Electronics (NASDAQ:KE) opened at 15.75 on Wednesday. The firm has a market capitalization of $432.86 million, a PE ratio of 16.30 and a beta of 0.90. Kimball Electronics has a 12 month low of $9.15 and a 12 month high of $15.90. The company has a 50 day moving average price of $13.88 and a 200-day moving average price of $12.41.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. raised its stake in Kimball Electronics by 10.9% in the second quarter. Alliancebernstein L.P. now owns 12,184 shares of the company’s stock valued at $152,000 after buying an additional 1,200 shares during the last quarter. KCG Holdings Inc. purchased a new stake in Kimball Electronics during the third quarter valued at $152,000. BlackRock Group LTD raised its stake in Kimball Electronics by 83.7% in the second quarter. BlackRock Group LTD now owns 13,071 shares of the company’s stock valued at $162,000 after buying an additional 5,957 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Kimball Electronics by 21.6% in the second quarter. Parametric Portfolio Associates LLC now owns 13,103 shares of the company’s stock valued at $163,000 after buying an additional 2,331 shares during the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new stake in Kimball Electronics during the second quarter valued at $165,000. 52.97% of the stock is owned by hedge funds and other institutional investors.
Kimball Electronics Company Profile
Kimball Electronics, Inc (Kimball Electronics) is engaged in providing engineering, manufacturing and supply chain services. The Company offers its services to customers in the automotive, medical, industrial and public safety end markets. The Company offers engineering, manufacturing and supply chain services, such as design services; rapid prototyping and new product introduction support; production and testing of printed circuit board assemblies (PCBAS); industrialization and automation of manufacturing processes; product design and process validation and qualification; reliability testing, which include testing of products under a series of different environmental conditions; assembly, production and packaging of other related non-electronic products; supply chain services, and product life cycle management.
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