Kimball Electronics (NASDAQ:KE) Share Price Breaks Below 200-Day Moving Average on Disappointing Earnings

Shares of Kimball Electronics, Inc. (NASDAQ:KE) crossed below its 200-day moving average during trading on Thursday following a dissappointing earnings announcement. The stock has a 200-day moving average of $25.63 and traded as low as $19.62. Kimball Electronics shares last traded at $20.45, with a volume of 595,900 shares trading hands.

The electronics maker reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.15). The company had revenue of $390.80 million during the quarter, compared to analyst estimates of $387.20 million. Kimball Electronics had a net margin of 1.41% and a return on equity of 3.10%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kimball Electronics in a research note on Monday. Zacks Research downgraded Kimball Electronics from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, Cantor Fitzgerald dropped coverage on Kimball Electronics in a research note on Monday, October 12th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.00.

Institutional Trading of Kimball Electronics

Hedge funds have recently modified their holdings of the stock. BOKF NA boosted its holdings in Kimball Electronics by 41.5% in the third quarter. BOKF NA now owns 13,928 shares of the electronics maker’s stock valued at $381,000 after purchasing an additional 4,086 shares during the period. Signaturefd LLC grew its stake in Kimball Electronics by 70.4% during the 3rd quarter. Signaturefd LLC now owns 2,082 shares of the electronics maker’s stock worth $57,000 after purchasing an additional 860 shares in the last quarter. Cardinal Capital Management increased its holdings in Kimball Electronics by 5.3% during the 3rd quarter. Cardinal Capital Management now owns 113,882 shares of the electronics maker’s stock worth $3,112,000 after purchasing an additional 5,710 shares during the period. Sax Wealth Advisors LLC purchased a new stake in Kimball Electronics during the 3rd quarter worth about $205,000. Finally, GAMMA Investing LLC increased its holdings in Kimball Electronics by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,707 shares of the electronics maker’s stock worth $47,000 after purchasing an additional 452 shares during the period. 75.99% of the stock is currently owned by institutional investors and hedge funds.

Kimball Electronics Stock Down 20.9%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.27 and a current ratio of 2.09. The company has a market cap of $490.60 million, a price-to-earnings ratio of 24.35 and a beta of 1.23. The business has a 50-day simple moving average of $26.10 and a 200-day simple moving average of $25.63.

Kimball Electronics Company Profile

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.