Kimball Electronics (NASDAQ:KE) Stock Keeps Overweight Rating at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reaffirmed its “overweight” rating on Kimball Electronics, while analysts overall give the stock a “Moderate Buy” consensus with an average price target of $32.00.
• Kimball Electronics shares opened at $28.68, with a market capitalization of approximately $688 million and a 12-month trading range of $21.01 to $32.00.
• The company’s latest quarterly results fell short of expectations, reporting a $0.01 loss per share versus the projected $0.39 profit and revenue of $371.57 million against estimates of $373.63 million; institutional investors own about 75.99% of the stock.

Kimball Electronics (NASDAQ:KE - Get Free Report)'s stock had its "overweight" rating restated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports.

A number of other research firms have also recently commented on KE. Zacks Research raised shares of Kimball Electronics from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Kimball Electronics in a report on Tuesday, August 4th. Wall Street Zen cut shares of Kimball Electronics from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Finally, KeyCorp started coverage on shares of Kimball Electronics in a research report on Thursday, July 2nd. They set a "sector weight" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Kimball Electronics presently has an average rating of "Moderate Buy" and an average target price of $32.00.

Kimball Electronics Stock Performance

Shares of KE opened at $28.68 on Monday. The company has a market cap of $688.03 million, a PE ratio of 25.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.24. The company has a current ratio of 2.09, a quick ratio of 1.27 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $25.73 and a 200-day moving average price of $25.45. Kimball Electronics has a 12-month low of $21.01 and a 12-month high of $32.00.

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

Hedge Funds Weigh In On Kimball Electronics

A number of hedge funds and other institutional investors have recently modified their holdings of KE. GAMMA Investing LLC boosted its stake in shares of Kimball Electronics by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,707 shares of the electronics maker's stock valued at $47,000 after purchasing an additional 452 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Kimball Electronics by 7.6% during the 2nd quarter. IFP Advisors Inc now owns 8,422 shares of the electronics maker's stock valued at $216,000 after purchasing an additional 592 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Kimball Electronics by 2.4% during the 1st quarter. Quantinno Capital Management LP now owns 31,578 shares of the electronics maker's stock valued at $748,000 after purchasing an additional 734 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Kimball Electronics by 6.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,246 shares of the electronics maker's stock worth $314,000 after purchasing an additional 839 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Kimball Electronics in the 2nd quarter worth $29,000. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

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.

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