Zacks Research Upgrades Kimball Electronics (NASDAQ:KE) to Strong-Buy

Kimball Electronics (NASDAQ:KE) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other equities analysts also recently commented on KE. Wall Street Zen downgraded shares of Kimball Electronics from a “buy” rating to a “hold” rating in a report on Saturday. KeyCorp started coverage on shares of Kimball Electronics in a research note on Thursday, July 2nd. They set a “sector weight” rating for the company. Finally, Weiss Ratings upgraded shares of Kimball Electronics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Kimball Electronics Stock Performance

NASDAQ:KE opened at $24.63 on Monday. The stock has a 50-day moving average price of $25.44 and a 200 day moving average price of $26.19. The stock has a market capitalization of $592.35 million, a P/E ratio of 23.68, a P/E/G ratio of 1.07 and a beta of 1.22. Kimball Electronics has a 12-month low of $18.04 and a 12-month high of $33.19. The company has a current ratio of 2.11, a quick ratio of 1.29 and a debt-to-equity ratio of 0.22.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings results on Tuesday, May 5th. The electronics maker reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Kimball Electronics had a return on equity of 6.22% and a net margin of 1.81%.The business had revenue of $352.92 million during the quarter, compared to analysts’ expectations of $356.27 million. Equities research analysts forecast that Kimball Electronics will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Kimball Electronics

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in Kimball Electronics by 806.4% during the third quarter. JPMorgan Chase & Co. now owns 112,710 shares of the electronics maker’s stock worth $3,366,000 after acquiring an additional 100,275 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Kimball Electronics by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 1,995,742 shares of the electronics maker’s stock valued at $55,522,000 after purchasing an additional 48,456 shares during the last quarter. Ellsworth Advisors LLC purchased a new position in shares of Kimball Electronics in the 4th quarter worth approximately $581,000. Inspire Investing LLC boosted its holdings in shares of Kimball Electronics by 459.4% in the 1st quarter. Inspire Investing LLC now owns 92,989 shares of the electronics maker’s stock worth $2,203,000 after purchasing an additional 76,367 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Kimball Electronics by 31.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 226,492 shares of the electronics maker’s stock valued at $5,366,000 after purchasing an additional 54,578 shares during the last quarter. Hedge funds and other institutional investors 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.