Kimball Electronics (NASDAQ:KE) Stock Rating Lowered by Zacks Research

Kimball Electronics (NASDAQ:KE) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Lake Street Capital reaffirmed a “buy” rating and issued a $32.00 target price on shares of Kimball Electronics in a report on Friday, November 7th. B. Riley reissued a “buy” rating on shares of Kimball Electronics in a research report on Thursday, October 9th. Wall Street Zen upgraded Kimball Electronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Kimball Electronics in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Kimball Electronics Trading Down 4.3%

Shares of Kimball Electronics stock opened at $28.55 on Tuesday. The stock has a market cap of $694.85 million, a P/E ratio of 30.05, a P/E/G ratio of 1.10 and a beta of 1.15. The company has a quick ratio of 1.34, a current ratio of 2.21 and a debt-to-equity ratio of 0.23. Kimball Electronics has a 12-month low of $12.41 and a 12-month high of $33.19. The business’s 50 day moving average is $28.78 and its 200-day moving average is $26.51.

Kimball Electronics (NASDAQ:KE) last issued its earnings results on Wednesday, November 5th. The electronics maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Kimball Electronics had a net margin of 1.62% and a return on equity of 6.28%. The business had revenue of $365.60 million for the quarter, compared to the consensus estimate of $338.43 million. Equities research analysts predict that Kimball Electronics will post 0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kimball Electronics

Hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of Kimball Electronics during the third quarter worth approximately $28,000. State of Alaska Department of Revenue bought a new position in shares of Kimball Electronics during the third quarter worth approximately $31,000. Founders Capital Management acquired a new stake in Kimball Electronics during the 2nd quarter worth approximately $29,000. IFP Advisors Inc acquired a new stake in Kimball Electronics during the 3rd quarter worth approximately $48,000. Finally, Raymond James Financial Inc. acquired a new position in Kimball Electronics in the 2nd quarter valued at $34,000. 75.99% of the stock is currently owned by institutional investors and hedge funds.

About Kimball Electronics

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company’s core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.