Kimball Electronics (NASDAQ:KE) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Shares of Kimball Electronics, Inc. (NASDAQ:KE) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $28.81 and traded as low as $27.73. Kimball Electronics shares last traded at $28.79, with a volume of 172,379 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Kimball Electronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Kimball Electronics in a research report on Tuesday, October 14th. Zacks Research upgraded Kimball Electronics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. B. Riley reaffirmed a “buy” rating on shares of Kimball Electronics in a research note on Thursday, October 9th. Finally, Lake Street Capital reissued a “buy” rating and set a $32.00 price target on shares of Kimball Electronics in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $32.00.

Kimball Electronics Trading Up 3.5%

The business has a fifty day moving average price of $28.81 and a two-hundred day moving average price of $26.30. The company has a current ratio of 2.21, a quick ratio of 1.34 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $700.75 million, a PE ratio of 30.31, a PEG ratio of 1.06 and a beta of 1.15.

Kimball Electronics (NASDAQ:KE) last posted its earnings results on Wednesday, November 5th. The electronics maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The company had revenue of $365.60 million for the quarter, compared to analysts’ expectations of $338.43 million. Kimball Electronics had a net margin of 1.62% and a return on equity of 6.28%. Analysts expect that Kimball Electronics, Inc. will post 0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Kimball Electronics

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Kimball Electronics by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,947,286 shares of the electronics maker’s stock valued at $58,146,000 after purchasing an additional 31,033 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Kimball Electronics by 19.9% during the third quarter. American Century Companies Inc. now owns 837,443 shares of the electronics maker’s stock worth $25,006,000 after buying an additional 139,029 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Kimball Electronics by 16.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 479,220 shares of the electronics maker’s stock valued at $14,310,000 after acquiring an additional 67,299 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Kimball Electronics by 3.2% in the second quarter. Envestnet Asset Management Inc. now owns 350,253 shares of the electronics maker’s stock worth $6,735,000 after acquiring an additional 11,023 shares during the last quarter. Finally, Grace & White Inc. NY lifted its stake in Kimball Electronics by 1.7% in the second quarter. Grace & White Inc. NY now owns 275,604 shares of the electronics maker’s stock worth $5,300,000 after acquiring an additional 4,727 shares during the last quarter. 75.99% of the stock is owned by institutional investors and hedge funds.

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.