Kimball Electronics (NASDAQ:KE) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Shares of Kimball Electronics, Inc. (NASDAQ:KE) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $25.11 and traded as low as $24.11. Kimball Electronics shares last traded at $24.91, with a volume of 202,483 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. KeyCorp started coverage on Kimball Electronics in a research note on Thursday, July 2nd. They issued a “sector weight” rating for the company. Zacks Research raised Kimball Electronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Weiss Ratings upgraded Kimball Electronics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Finally, Wall Street Zen lowered Kimball Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Kimball Electronics Stock Up 1.8%

The stock’s 50 day simple moving average is $25.11 and its two-hundred day simple moving average is $25.85. The firm has a market cap of $599.09 million, a P/E ratio of 23.95, a P/E/G ratio of 1.09 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.29.

Kimball Electronics (NASDAQ:KE) last released its earnings results on Tuesday, May 5th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). Kimball Electronics had a net margin of 1.81% and a return on equity of 6.22%. The business had revenue of $352.92 million for the quarter, compared to analysts’ expectations of $356.27 million. As a group, research analysts forecast that Kimball Electronics, Inc. will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KE. Wedge Capital Management L L P NC grew its stake in shares of Kimball Electronics by 37.7% in the second quarter. Wedge Capital Management L L P NC now owns 133,860 shares of the electronics maker’s stock worth $3,427,000 after acquiring an additional 36,621 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of Kimball Electronics in the 2nd quarter worth about $200,000. Parallel Advisors LLC boosted its stake in Kimball Electronics by 122.8% in the 1st quarter. Parallel Advisors LLC now owns 2,324 shares of the electronics maker’s stock worth $55,000 after purchasing an additional 1,281 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Kimball Electronics by 74.6% in the 1st quarter. NewEdge Advisors LLC now owns 187,186 shares of the electronics maker’s stock worth $4,434,000 after purchasing an additional 80,000 shares in the last quarter. Finally, Empowered Funds LLC grew its position in Kimball Electronics by 82.7% during the 1st quarter. Empowered Funds LLC now owns 215,283 shares of the electronics maker’s stock valued at $5,100,000 after purchasing an additional 97,459 shares during the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.

About Kimball Electronics

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.