Kimball Electronics (NASDAQ:KE) Stock Dropped to "Hold" by Zacks Research

Key Points

• Zacks Research downgraded Kimball Electronics from “strong buy” to “hold,” joining a broader analyst consensus of “Hold” with a $32 target price.
• Kimball Electronics shares opened at $26.16, with a 12-month range of $21.01 to $32.00 and a market capitalization of approximately $627.6 million.
• The company reported a quarterly loss of $0.01 per share, missing the $0.39 consensus estimate, while revenue of $371.6 million was slightly below expectations; institutional investors own about 76% of its stock.

Kimball Electronics (NASDAQ:KE - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday, Zacks reports.

Several other research firms have also recently weighed in on KE. Wall Street Zen cut Kimball Electronics from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. KeyCorp began coverage on Kimball Electronics in a research report on Thursday, July 2nd. They set a "sector weight" rating on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Kimball Electronics in a report on Monday, October 12th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Kimball Electronics in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $32.00.

Kimball Electronics Price Performance

Shares of KE opened at $26.16 on Monday. The company has a market capitalization of $627.58 million, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 1.04 and a beta of 1.24. The company has a quick ratio of 1.27, a current ratio of 2.09 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $25.85 and a 200 day moving average of $25.58. Kimball Electronics has a twelve month low of $21.01 and a twelve month high of $32.00.

Kimball Electronics (NASDAQ:KE - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The electronics maker reported ($0.01) earnings per share (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 during the quarter, compared to the consensus estimate of $373.63 million. As a group, equities research analysts anticipate that Kimball Electronics will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Kimball Electronics

Several hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new position in shares of Kimball Electronics in the second quarter worth approximately $2,389,000. Empowered Funds LLC purchased a new stake in shares of Kimball Electronics in the second quarter worth $3,571,000. Bank of America Corp DE purchased a new stake in shares of Kimball Electronics in the second quarter worth $30,505,000. NewEdge Advisors LLC raised its position in shares of Kimball Electronics by 74.6% during the 1st quarter. NewEdge Advisors LLC now owns 187,186 shares of the electronics maker's stock valued at $4,434,000 after purchasing an additional 80,000 shares during the period. Finally, Oxford Financial Group LTD. LLC bought a new stake in shares of Kimball Electronics during the 2nd quarter valued at $7,314,000. Institutional investors own 75.99% of the company's stock.

Kimball Electronics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.