Kimball Electronics (NASDAQ:KE) Stock Price Down 13.5% – Time to Sell?

Shares of Kimball Electronics, Inc. (NASDAQ:KE) dropped 13.5% on Thursday . The company traded as low as $26.06 and last traded at $26.5750. Approximately 65,535 shares were traded during trading, a decline of 55% from the average daily volume of 145,273 shares. The stock had previously closed at $30.72.

Wall Street Analysts Forecast Growth

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

Kimball Electronics Price Performance

The company has a market cap of $594.38 million, a PE ratio of 25.93, a PEG ratio of 1.14 and a beta of 1.20. The firm’s 50-day moving average is $29.55 and its 200-day moving average is $27.98. 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 (NASDAQ:KE) last issued its quarterly earnings results on Wednesday, February 4th. The electronics maker reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The company had revenue of $341.28 million for the quarter, compared to analysts’ expectations of $339.34 million. Kimball Electronics had a return on equity of 6.28% and a net margin of 1.62%. On average, equities analysts anticipate that Kimball Electronics, Inc. will post 0.89 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in Kimball Electronics by 5.8% during the 1st quarter. Royal Bank of Canada now owns 29,199 shares of the electronics maker’s stock valued at $480,000 after acquiring an additional 1,588 shares during the period. AQR Capital Management LLC lifted its position in Kimball Electronics by 24.0% during the first 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kimball Electronics by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,687 shares of the electronics maker’s stock valued at $242,000 after acquiring an additional 624 shares during the period. Empowered Funds LLC lifted its holdings in Kimball Electronics by 8.3% during the first quarter. Empowered Funds LLC now owns 88,650 shares of the electronics maker’s stock valued at $1,458,000 after purchasing an additional 6,803 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Kimball Electronics during the 1st quarter valued at $411,000. 75.99% of the stock is owned by institutional investors.

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.