Kimball Electronics (NASDAQ:KE) Stock Rated “Buy” in New Coverage at Roth Capital

Roth Capital initiated coverage on shares of Kimball Electronics (NASDAQ:KE) in a research report released on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $37.00 price objective on the electronics maker’s stock.

KE has been the topic of several other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Kimball Electronics in a report on Monday, November 2nd. Zacks Research cut Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Finally, Cantor Fitzgerald dropped coverage on Kimball Electronics in a research note on Monday, October 12th. They issued an “overweight” rating on the stock. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.00.

Kimball Electronics Price Performance

KE traded down $0.36 on Thursday, reaching $19.74. The company had a trading volume of 236,378 shares, compared to its average volume of 221,327. The company has a market capitalization of $473.37 million, a P/E ratio of 23.50 and a beta of 1.23. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average of $25.59 and a 200-day moving average of $25.31. Kimball Electronics has a one year low of $19.10 and a one year high of $32.00.

Kimball Electronics (NASDAQ:KE) last released its quarterly earnings results on Wednesday, November 4th. The electronics maker reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.15). The company had revenue of $390.80 million for the quarter, compared to the consensus estimate of $387.20 million. Kimball Electronics had a return on equity of 3.09% and a net margin of 1.41%. As a group, equities research analysts anticipate that Kimball Electronics will post 1.32 earnings per share for the current year.

Institutional Investors Weigh In On Kimball Electronics

A number of institutional investors and hedge funds have recently modified their holdings of KE. BlackRock Inc. acquired a new position in shares of Kimball Electronics in the 2nd quarter valued at $62,468,000. Bank of America Corp DE purchased a new stake in Kimball Electronics during the second quarter valued at about $30,505,000. Oxford Financial Group LTD. LLC purchased a new stake in Kimball Electronics during the second quarter valued at about $7,314,000. Empowered Funds LLC boosted its holdings in shares of Kimball Electronics by 82.7% in the first 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 shares of 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 buying an additional 14,754 shares during the period. 75.99% of the stock is owned by institutional investors and hedge funds.

Kimball Electronics Company Profile

Kimball Electronics, Inc. is a contract manufacturer that provides engineering, supply chain, and manufacturing services for electronic and other products. Its work includes product design and development, assembly, testing, and related support services. The company serves customers in markets including medical, automotive, industrial, and public safety. Its services help customers bring products to market and manage production across their life cycles. Kimball Electronics traces its roots to electronics manufacturing operations established by Kimball International in 1961 and became an independent publicly traded company in 2014.