Kimball Electronics (NASDAQ:KE) Stock Crosses Below 50-Day Moving Average - Time to Sell?

Key Points

• Kimball Electronics stock fell below its 50-day moving average during Wednesday trading, with shares dipping to $24.68 and last trading at $24.74, down about 1.6% on the day.
• Analyst sentiment is mixed but still constructive: KE now carries an average Moderate Buy rating and a consensus price target of $32.00, despite a recent downgrade from Wall Street Zen.
• The company’s latest earnings missed expectations slightly, reporting $0.33 EPS versus the $0.34 estimate and revenue of $352.92 million versus $356.27 million expected.

Kimball Electronics, Inc. (NASDAQ:KE - Get Free Report) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $25.24 and traded as low as $24.68. Kimball Electronics shares last traded at $24.74, with a volume of 125,599 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KE shares. Zacks Research upgraded shares of Kimball Electronics from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Wall Street Zen cut Kimball Electronics from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Weiss Ratings upgraded Kimball Electronics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, May 7th. Finally, KeyCorp began coverage on Kimball Electronics in a research report on Thursday, July 2nd. They issued a "sector weight" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.00.

Kimball Electronics Stock Down 1.6%

The stock has a market capitalization of $595.00 million, a price-to-earnings ratio of 23.79, a PEG ratio of 1.12 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.29. The business has a fifty day moving average of $25.24 and a 200 day moving average of $26.03.

Kimball Electronics (NASDAQ:KE - Get Free Report) last posted its earnings results on Tuesday, May 5th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). Kimball Electronics had a return on equity of 6.22% and a net margin of 1.81%.The business had revenue of $352.92 million for the quarter, compared to analyst estimates of $356.27 million. As a group, equities analysts predict that Kimball Electronics, Inc. will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Kimball Electronics by 5.8% during the first quarter. Royal Bank of Canada now owns 29,199 shares of the electronics maker's stock valued at $480,000 after acquiring an additional 1,588 shares during the last quarter. AQR Capital Management LLC increased its holdings in Kimball Electronics by 24.0% in the 1st quarter. AQR Capital Management LLC now owns 259,734 shares of the electronics maker's stock valued at $4,273,000 after purchasing an additional 50,245 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Kimball Electronics by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,687 shares of the electronics maker's stock valued at $242,000 after purchasing an additional 624 shares during the last quarter. Empowered Funds LLC lifted its stake in Kimball Electronics by 8.3% during the first quarter. Empowered Funds LLC now owns 88,650 shares of the electronics maker's stock worth $1,458,000 after purchasing an additional 6,803 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Kimball Electronics during the first quarter worth $411,000. Institutional investors and hedge funds own 75.99% of the company's stock.

About Kimball Electronics

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company's core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.

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