Kimball Electronics (NASDAQ:KE) Sees Large Volume Increase – Here’s Why

Shares of Kimball Electronics, Inc. (NASDAQ:KE) saw unusually-high trading volume on Wednesday . Approximately 243,594 shares traded hands during trading, an increase of 55% from the previous session’s volume of 157,374 shares.The stock last traded at $26.3870 and had previously closed at $25.59.

Analysts Set New Price Targets

KE has been the topic of a number of research analyst reports. Wall Street Zen lowered Kimball Electronics from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 23rd. Zacks Research lowered Kimball Electronics from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised Kimball Electronics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Kimball Electronics currently has an average rating of “Hold” and a consensus price target of $32.00.

Kimball Electronics Stock Performance

The stock has a 50 day moving average price of $25.27 and a two-hundred day moving average price of $26.88. The company has a current ratio of 2.11, a quick ratio of 1.29 and a debt-to-equity ratio of 0.22. The company has a market cap of $627.20 million, a price-to-earnings ratio of 25.07, a P/E/G ratio of 0.85 and a beta of 1.25.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings results on Tuesday, May 5th. The electronics maker reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The company had revenue of $352.92 million during the quarter, compared to analyst estimates of $356.27 million. Kimball Electronics had a net margin of 1.81% and a return on equity of 6.22%. Analysts predict that Kimball Electronics, Inc. will post 1.44 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KE. BNP Paribas Financial Markets lifted its stake in shares of Kimball Electronics by 10,263.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 260,850 shares of the electronics maker’s stock valued at $7,789,000 after purchasing an additional 258,333 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of Kimball Electronics in the 3rd quarter valued at $6,846,000. American Century Companies Inc. lifted its stake in shares of Kimball Electronics by 19.9% in the 3rd quarter. American Century Companies Inc. now owns 837,443 shares of the electronics maker’s stock valued at $25,006,000 after purchasing an additional 139,029 shares during the period. Millennium Management LLC lifted its stake in shares of Kimball Electronics by 403.0% in the 4th quarter. Millennium Management LLC now owns 130,160 shares of the electronics maker’s stock valued at $3,621,000 after purchasing an additional 104,281 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Kimball Electronics by 806.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 112,710 shares of the electronics maker’s stock valued at $3,366,000 after purchasing an additional 100,275 shares during the period. Institutional investors and hedge funds own 75.99% of the company’s stock.

Kimball Electronics Company Profile

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.