Kimball Electronics (NASDAQ:KE) Stock Price Down 10.2% – Here’s Why

Kimball Electronics, Inc. (NASDAQ:KE) was down 10.2% during mid-day trading on Tuesday . The company traded as low as $24.54 and last traded at $24.12. Approximately 47,909 shares were traded during mid-day trading, a decline of 73% from the average session volume of 175,274 shares. The stock had previously closed at $26.85.

Analyst Upgrades and Downgrades

KE has been the topic of a number of research reports. Zacks Research raised shares of Kimball Electronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kimball Electronics in a research note on Tuesday, August 4th. KeyCorp assumed coverage on shares of Kimball Electronics in a report on Thursday, July 2nd. They set a “sector weight” rating on the stock. Finally, Wall Street Zen cut shares of Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Kimball Electronics currently has an average rating of “Moderate Buy” and an average price target of $32.00.

Kimball Electronics Stock Performance

The stock has a 50 day moving average of $25.19 and a 200 day moving average of $25.33. The company has a quick ratio of 1.29, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $581.29 million, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23.

Kimball Electronics (NASDAQ:KE) last released its earnings results on Wednesday, August 12th. The electronics maker reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Kimball Electronics had a net margin of 1.95% and a return on equity of 4.42%. The firm had revenue of $371.57 million for the quarter, compared to analyst estimates of $373.63 million. As a group, analysts predict that Kimball Electronics, Inc. will post 1.13 EPS for the current year.

Institutional Trading of Kimball Electronics

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Kimball Electronics during the 2nd quarter worth about $62,468,000. Bank of America Corp DE acquired a new position in shares of Kimball Electronics in the 2nd quarter valued at about $30,505,000. Oxford Financial Group LTD. LLC acquired a new position in shares of Kimball Electronics in the 2nd quarter valued at about $7,314,000. BNP Paribas Financial Markets boosted its position in shares of Kimball Electronics by 10,263.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 260,850 shares of the electronics maker’s stock valued at $7,789,000 after purchasing an additional 258,333 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Kimball Electronics during the 2nd quarter valued at about $3,571,000. 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.