Kimball Electronics, Inc. (NASDAQ:KE) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately positive: Kimball Electronics has a consensus “Moderate Buy” rating from five analysts, with an average 12-month price target of $32.00.
• Recent quarterly results fell short of expectations: The company reported a $0.01 loss per share versus the consensus estimate of $0.39 in earnings, while revenue of $371.57 million was slightly below forecasts.
• Institutional ownership remains high: Institutional investors own approximately 75.99% of Kimball Electronics, although the stock was trading at $23.95, down 8.5%, near the lower end of its 52-week range.

Shares of Kimball Electronics, Inc. (NASDAQ:KE - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the five ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $32.00.

A number of brokerages have recently commented 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 shares of Kimball Electronics in a research note on Thursday, July 2nd. They set a "sector weight" rating on the stock. Zacks Research upgraded shares of Kimball Electronics from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Kimball Electronics in a research note on Tuesday, August 4th.

Institutional Trading of Kimball Electronics

A number of large investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in Kimball Electronics by 7.9% during the second quarter. NewEdge Advisors LLC now owns 201,940 shares of the electronics maker's stock worth $5,170,000 after acquiring an additional 14,754 shares in the last quarter. IFP Advisors Inc grew its stake in Kimball Electronics by 7.6% in the second quarter. IFP Advisors Inc now owns 8,422 shares of the electronics maker's stock valued at $216,000 after acquiring an additional 592 shares during the period. California State Teachers Retirement System increased its holdings in shares of Kimball Electronics by 545.8% in the second quarter. California State Teachers Retirement System now owns 8,499 shares of the electronics maker's stock worth $218,000 after acquiring an additional 7,183 shares in the last quarter. AXQ Capital LP bought a new stake in shares of Kimball Electronics in the second quarter worth about $284,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Kimball Electronics during the second quarter worth about $519,000. Institutional investors own 75.99% of the company's stock.

Kimball Electronics Stock Down 8.5%

NASDAQ:KE opened at $23.95 on Tuesday. Kimball Electronics has a 12-month low of $21.01 and a 12-month high of $33.19. 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 market capitalization of $574.08 million, a P/E ratio of 21.19, a P/E/G ratio of 1.11 and a beta of 1.20. The stock's fifty day simple moving average is $24.77 and its 200-day simple moving average is $25.02.

Kimball Electronics (NASDAQ:KE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The electronics maker reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.40). Kimball Electronics had a return on equity of 4.41% and a net margin of 1.95%.The company had revenue of $371.57 million for the quarter, compared to analyst estimates of $373.63 million. Equities research analysts expect that Kimball Electronics will post 1.18 earnings per share for the current year.

About Kimball Electronics

Kimball Electronics, Inc NASDAQ: KE is a contract manufacturing services provider that designs and manufactures electronic and electromechanical products for customers in the automotive, medical, and industrial markets. The company supports customers from product development through production, offering engineering, supply chain management, manufacturing, testing, and final assembly services.

Its capabilities include the production of printed circuit board assemblies, electronic modules, cable and wire harnesses, medical devices, automotive components, and industrial control products.

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