ValuEngine downgraded shares of Kimball Electronics, Inc. (NASDAQ:KE) from a buy rating to a hold rating in a research report released on Monday morning.

Separately, BidaskClub lowered Kimball Electronics from a strong-buy rating to a buy rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $17.00.

Kimball Electronics (NASDAQ:KE) opened at 22.05 on Monday. The stock has a market cap of $591.25 million, a P/E ratio of 17.78 and a beta of 1.02. The firm’s 50 day moving average price is $19.73 and its 200-day moving average price is $18.14. Kimball Electronics has a 12-month low of $13.38 and a 12-month high of $22.27.

Kimball Electronics (NASDAQ:KE) last issued its earnings results on Wednesday, August 2nd. The electronics maker reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04. Kimball Electronics had a return on equity of 9.24% and a net margin of 3.67%. The business had revenue of $241.27 million during the quarter. Equities research analysts anticipate that Kimball Electronics will post $0.93 earnings per share for the current fiscal year.

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Kimball Electronics announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 24th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 42% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Several large investors have recently made changes to their positions in KE. Teachers Advisors LLC raised its position in shares of Kimball Electronics by 18.8% in the 4th quarter. Teachers Advisors LLC now owns 53,382 shares of the electronics maker’s stock worth $972,000 after acquiring an additional 8,457 shares in the last quarter. AJO LP purchased a new stake in shares of Kimball Electronics during the 2nd quarter worth $3,879,000. US Bancorp DE lifted its stake in shares of Kimball Electronics by 0.5% during the 1st quarter. US Bancorp DE now owns 36,217 shares of the electronics maker’s stock worth $614,000 after purchasing an additional 169 shares during the last quarter. ClariVest Asset Management LLC lifted its stake in shares of Kimball Electronics by 46.1% during the 1st quarter. ClariVest Asset Management LLC now owns 87,654 shares of the electronics maker’s stock worth $1,486,000 after purchasing an additional 27,642 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Kimball Electronics by 44.0% during the 1st quarter. Renaissance Technologies LLC now owns 350,575 shares of the electronics maker’s stock worth $5,942,000 after purchasing an additional 107,200 shares during the last quarter. Institutional investors and hedge funds own 56.86% of the company’s stock.

About Kimball Electronics

Kimball Electronics, Inc (Kimball Electronics) is an electronics manufacturing services (EMS) company. The Company is engaged in producing electronics for the automotive, medical, 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 range of industries.

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