Kimball Electronics (NASDAQ:KE) Share Price Crosses Above Fifty Day Moving Average Following Analyst Downgrade

Kimball Electronics, Inc. (NASDAQ:KE)’s stock price passed above its 50 day moving average during trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock has a 50 day moving average of $25.83 and traded as high as $26.59. Kimball Electronics shares last traded at $26.22, with a volume of 185,515 shares changing hands.

A number of other research firms also recently issued reports on KE. KeyCorp began coverage on shares of Kimball Electronics in a research note on Thursday, July 2nd. They set a “sector weight” rating on the stock. Weiss Ratings raised shares of Kimball Electronics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Kimball Electronics has a consensus rating of “Hold” and a consensus target price of $32.00.

Hedge Funds Weigh In On Kimball Electronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Kimball Electronics during the 2nd quarter valued at $29,000. GAMMA Investing LLC boosted its position in shares of Kimball Electronics by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,707 shares of the electronics maker’s stock worth $47,000 after purchasing an additional 452 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Kimball Electronics during the 2nd quarter worth $50,000. Parallel Advisors LLC grew its stake in Kimball Electronics by 122.8% during the 1st quarter. Parallel Advisors LLC now owns 2,324 shares of the electronics maker’s stock worth $55,000 after buying an additional 1,281 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Kimball Electronics during the 2nd quarter worth $55,000. Hedge funds and other institutional investors own 75.99% of the company’s stock.

Kimball Electronics Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.09 and a quick ratio of 1.27. The firm has a market cap of $635.26 million, a price-to-earnings ratio of 23.43, a P/E/G ratio of 1.04 and a beta of 1.24. The firm has a fifty day simple moving average of $25.87 and a two-hundred day simple moving average of $25.59.

Kimball Electronics (NASDAQ:KE) last issued its quarterly earnings results on Wednesday, August 12th. The electronics maker reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Kimball Electronics had a return on equity of 4.41% and a net margin of 1.95%. The business had revenue of $371.57 million for the quarter, compared to analysts’ expectations of $373.63 million. On average, analysts expect that Kimball Electronics, Inc. will post 1.27 EPS for the current year.

Kimball Electronics Company Profile

Kimball Electronics, Inc is a contract manufacturer that provides electronic manufacturing services, engineering support and supply-chain solutions for original equipment manufacturers. The company helps customers design, build, test and manage products ranging from circuit-board assemblies to complete, integrated systems.

Kimball Electronics serves a diverse group of markets, including automotive, medical, industrial and public safety applications. Its capabilities include printed circuit board assembly, box-build and system integration, prototyping, product testing, tooling, automation and other manufacturing services.