Kimball Electronics (NASDAQ:KE) Downgraded by StockNews.com to Hold

Kimball Electronics (NASDAQ:KE) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, Lake Street Capital dropped their price objective on Kimball Electronics from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.75.

Kimball Electronics Trading Down 0.3 %

NASDAQ KE opened at $18.24 on Thursday. The company has a current ratio of 2.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.33. Kimball Electronics has a 1-year low of $12.41 and a 1-year high of $24.45. The firm’s fifty day simple moving average is $15.33 and its 200-day simple moving average is $17.50. The company has a market capitalization of $447.88 million, a PE ratio of 57.00 and a beta of 1.11.

Kimball Electronics (NASDAQ:KE) last released its quarterly earnings data on Tuesday, May 6th. The electronics maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The business had revenue of $374.61 million during the quarter, compared to analyst estimates of $338.08 million. Kimball Electronics had a net margin of 0.51% and a return on equity of 5.48%. As a group, sell-side analysts anticipate that Kimball Electronics will post 0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kimball Electronics

Several institutional investors and hedge funds have recently bought and sold shares of KE. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Kimball Electronics by 239.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 200,362 shares of the electronics maker’s stock valued at $3,753,000 after acquiring an additional 141,411 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Kimball Electronics by 45.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 339,230 shares of the electronics maker’s stock valued at $5,580,000 after buying an additional 105,889 shares during the period. Vanguard Group Inc. raised its stake in shares of Kimball Electronics by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 1,945,556 shares of the electronics maker’s stock worth $36,440,000 after buying an additional 92,166 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Kimball Electronics by 34.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 300,694 shares of the electronics maker’s stock valued at $4,946,000 after buying an additional 77,272 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Kimball Electronics by 142.1% during the fourth quarter. JPMorgan Chase & Co. now owns 113,208 shares of the electronics maker’s stock worth $2,120,000 after purchasing an additional 66,444 shares in the last quarter. Institutional investors own 75.99% of the company’s stock.

About Kimball Electronics

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.