Kimball Electronics (NASDAQ:KE) Stock Price Breaks Above Fifty Day Moving Average Following Analyst Downgrade

Kimball Electronics, Inc. (NASDAQ:KE)’s stock price passed above its fifty day moving average during trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock has a fifty day moving average of $25.83 and traded as high as $26.59. Kimball Electronics shares last traded at $26.22, with a volume of 185,515 shares changing hands.

A number of other research analysts have also recently issued reports on KE. KeyCorp initiated coverage on Kimball Electronics in a report on Thursday, July 2nd. They issued a “sector weight” rating for the company. Wall Street Zen lowered shares of Kimball Electronics from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Weiss Ratings upgraded shares of Kimball Electronics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Kimball Electronics during the second quarter worth approximately $62,468,000. Bank of America Corp DE acquired a new position in Kimball Electronics in the second quarter valued at approximately $30,505,000. Oxford Financial Group LTD. LLC acquired a new position in Kimball Electronics in the second quarter valued at approximately $7,314,000. Empowered Funds LLC acquired a new position in Kimball Electronics in the second quarter valued at approximately $3,571,000. Finally, Man Group plc bought a new position in Kimball Electronics in the second quarter valued at approximately $3,325,000. 75.99% of the stock is currently owned by institutional investors.

Kimball Electronics Trading Up 1.2%

The stock has a market capitalization of $635.26 million, a P/E ratio of 23.43, a PEG ratio of 1.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.09 and a quick ratio of 1.27. The business’s 50 day simple moving average is $25.87 and its 200-day simple moving average is $25.59.

Kimball Electronics (NASDAQ:KE) last issued its earnings results on Wednesday, August 12th. The electronics maker reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). Kimball Electronics had a net margin of 1.95% and a return on equity of 4.41%. The business had revenue of $371.57 million for the quarter, compared to the consensus estimate of $373.63 million. As a group, analysts forecast that Kimball Electronics, Inc. will post 1.27 EPS for the current year.

About Kimball Electronics

Kimball Electronics, Inc is a contract manufacturer that provides electronic manufacturing services, engineering support and supply-chain solutions for original equipment manufacturers. The company helps customers design, build, test and manage products ranging from circuit-board assemblies to complete, integrated systems.

Kimball Electronics serves a diverse group of markets, including automotive, medical, industrial and public safety applications. Its capabilities include printed circuit board assembly, box-build and system integration, prototyping, product testing, tooling, automation and other manufacturing services.