Kimball Electronics (NASDAQ:KE) Posts Quarterly Earnings Results, Meets Estimates

Kimball Electronics (NASDAQ:KE) released its quarterly earnings data on Wednesday. The electronics maker reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28, FiscalAI reports. Kimball Electronics had a return on equity of 6.28% and a net margin of 1.62%.

Kimball Electronics Price Performance

Shares of NASDAQ:KE traded down $0.34 during midday trading on Wednesday, hitting $30.72. The company had a trading volume of 191,807 shares, compared to its average volume of 150,626. Kimball Electronics has a twelve month low of $12.41 and a twelve month high of $33.19. The stock has a market cap of $747.72 million, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 1.15 and a beta of 1.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.21 and a quick ratio of 1.34. The business’s 50-day simple moving average is $29.51 and its 200-day simple moving average is $27.96.

Institutional Trading of Kimball Electronics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Kimball Electronics by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,947,286 shares of the electronics maker’s stock worth $58,146,000 after acquiring an additional 31,033 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Kimball Electronics by 16.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 479,220 shares of the electronics maker’s stock worth $14,310,000 after purchasing an additional 67,299 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Kimball Electronics by 10,263.5% during the third quarter. BNP Paribas Financial Markets now owns 260,850 shares of the electronics maker’s stock worth $7,789,000 after purchasing an additional 258,333 shares during the period. AQR Capital Management LLC boosted its holdings in Kimball Electronics by 24.0% in the 1st quarter. AQR Capital Management LLC now owns 259,734 shares of the electronics maker’s stock valued at $4,273,000 after purchasing an additional 50,245 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in shares of Kimball Electronics by 5.2% in the 3rd quarter. Bridgeway Capital Management LLC now owns 183,441 shares of the electronics maker’s stock valued at $5,478,000 after buying an additional 9,044 shares during the period. 75.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KE has been the topic of a number of research reports. Wall Street Zen raised Kimball Electronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Lake Street Capital reissued a “buy” rating and issued a $32.00 target price on shares of Kimball Electronics in a report on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Kimball Electronics in a research report on Friday, January 9th. B. Riley reiterated a “buy” rating on shares of Kimball Electronics in a research report on Thursday, October 9th. Finally, Zacks Research cut shares of Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

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.