Kimball Electronics (NASDAQ:KE) Shares Gap Up - Here's What Happened

Key Points

• Kimball Electronics' shares gapped up at the market open on Monday, moving from a previous close of $25.82 to an opening price of $27.72, and last traded at $26.86 with a trading volume of 140,908 shares.
• Analysts have shown increased confidence in Kimball Electronics, with B. Riley and Lake Street Capital both reiterating "buy" ratings and Lake Street raising its target price to $28.00, while Wall Street Zen upgraded the stock to a "strong-buy" status.
• The company reported better-than-expected earnings of $0.34 per share on revenue of $380.47 million, surpassing analysts' forecasts and suggesting strong financial performance for the current fiscal year.

Kimball Electronics, Inc. (NASDAQ:KE - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $25.82, but opened at $27.72. Kimball Electronics shares last traded at $26.86, with a volume of 140,908 shares changing hands.

Analyst Ratings Changes

KE has been the topic of several recent research reports. B. Riley restated a "buy" rating on shares of Kimball Electronics in a research report on Thursday. Lake Street Capital restated a "buy" rating and set a $28.00 target price (up from $21.00) on shares of Kimball Electronics in a research report on Friday. Finally, Wall Street Zen upgraded shares of Kimball Electronics from a "buy" rating to a "strong-buy" rating in a research report on Saturday.

Kimball Electronics Trading Up 7.4%

The company has a market capitalization of $675.94 million, a PE ratio of 41.25 and a beta of 1.22. The company's fifty day moving average is $19.61 and its 200-day moving average is $17.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.14 and a quick ratio of 1.24.

Kimball Electronics (NASDAQ:KE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The electronics maker reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.14. The firm had revenue of $380.47 million for the quarter, compared to analyst estimates of $333.19 million. Kimball Electronics had a net margin of 1.14% and a return on equity of 5.17%. On average, analysts anticipate that Kimball Electronics, Inc. will post 0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Two Sigma Investments LP increased its holdings in Kimball Electronics by 37.2% in the fourth quarter. Two Sigma Investments LP now owns 85,364 shares of the electronics maker's stock valued at $1,599,000 after buying an additional 23,168 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Kimball Electronics by 3,256.0% during the first quarter. GAMMA Investing LLC now owns 4,195 shares of the electronics maker's stock worth $69,000 after purchasing an additional 4,070 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Kimball Electronics by 45.4% during the first quarter. Envestnet Asset Management Inc. now owns 339,230 shares of the electronics maker's stock worth $5,580,000 after purchasing an additional 105,889 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Kimball Electronics by 81.8% during the first quarter. Avantax Advisory Services Inc. now owns 63,392 shares of the electronics maker's stock worth $1,043,000 after purchasing an additional 28,521 shares in the last quarter. Finally, Peapod Lane Capital LLC purchased a new stake in shares of Kimball Electronics during the first quarter worth about $519,000. 75.99% of the stock is currently owned by institutional investors and hedge funds.

About Kimball Electronics

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.

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