Kimball Electronics (NASDAQ:KE) Hits New 12-Month Low – Should You Sell?

Kimball Electronics, Inc. (NASDAQ:KE)’s share price reached a new 52-week low during trading on Friday. The company traded as low as $19.11 and last traded at $19.26, with a volume of 491,143 shares. The stock had previously closed at $20.45.

Analyst Upgrades and Downgrades

KE has been the subject of a number of recent analyst reports. Cantor Fitzgerald dropped coverage on shares of Kimball Electronics in a research report on Monday, October 12th. They set an “overweight” rating for the company. Zacks Research downgraded shares of Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kimball Electronics in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $32.00.

Kimball Electronics Trading Down 5.8%

The firm has a 50-day moving average of $26.01 and a 200 day moving average of $25.57. The company has a market cap of $462.05 million, a P/E ratio of 25.73 and a beta of 1.23. The company has a current ratio of 2.09, a quick ratio of 1.27 and a debt-to-equity ratio of 0.18.

Kimball Electronics (NASDAQ:KE) last issued its quarterly earnings results on Wednesday, November 4th. The electronics maker reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.15). The business had revenue of $390.80 million during the quarter, compared to analyst estimates of $387.20 million. Kimball Electronics had a net margin of 1.95% and a return on equity of 4.41%. On average, analysts predict that Kimball Electronics, Inc. will post 1.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kimball Electronics

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Kimball Electronics in the 2nd quarter valued at about $62,468,000. Bank of America Corp DE acquired a new position in Kimball Electronics during the 2nd quarter worth approximately $30,505,000. Oxford Financial Group LTD. LLC acquired a new position in Kimball Electronics during the 2nd quarter worth approximately $7,314,000. Empowered Funds LLC raised its stake in Kimball Electronics by 82.7% during the 1st quarter. Empowered Funds LLC now owns 215,283 shares of the electronics maker’s stock worth $5,100,000 after buying an additional 97,459 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Kimball Electronics by 7.9% in the second quarter. NewEdge Advisors LLC now owns 201,940 shares of the electronics maker’s stock worth $5,170,000 after acquiring an additional 14,754 shares in the last quarter. Institutional investors and hedge funds own 75.99% of the company’s stock.

About Kimball Electronics

Kimball Electronics, Inc is a contract manufacturing and engineering services company that helps original equipment manufacturers design, develop and produce electronic and electrical products. The company provides services spanning product design and development, prototyping, testing, manufacturing, supply chain management and aftermarket support.

Kimball Electronics serves customers in the automotive, medical and industrial markets. Its manufacturing capabilities support products and systems such as automotive electronics, medical devices and equipment, industrial controls, power-management products and other complex electronic assemblies.