Kimball Electronics (NASDAQ:KE) Stock Price Down 10.2% - What's Next?

Key Points

• Kimball Electronics shares fell 10.2% to $24.12, with trading volume down 73% from the average session. The stock is trading near its 50-day and 200-day moving averages.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $32.00, implying substantial upside from the latest price.
• The company reported a quarterly loss of $0.01 per share, missing expectations by $0.40, while revenue of $371.57 million was slightly below forecasts. Institutional investors hold approximately 75.99% of the outstanding shares.

Kimball Electronics, Inc. (NASDAQ:KE - Get Free Report) shares fell 10.2% during trading on Tuesday . The stock traded as low as $24.54 and last traded at $24.12. Approximately 47,909 shares were traded during trading, a decline of 73% from the average session volume of 175,274 shares. The stock had previously closed at $26.85.

Wall Street Analyst Weigh In

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

Kimball Electronics Price Performance

The business's fifty day moving average price is $25.19 and its 200 day moving average price is $25.33. 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 stock has a market cap of $581.29 million, a P/E ratio of 21.35, a PEG ratio of 1.15 and a beta of 1.23.

Kimball Electronics (NASDAQ:KE - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $371.57 million for the quarter, compared to the consensus estimate of $373.63 million. Kimball Electronics had a net margin of 1.95% and a return on equity of 4.42%. Sell-side analysts forecast that Kimball Electronics, Inc. will post 1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Kimball Electronics during the 3rd quarter valued at $28,000. Public Employees Retirement System of Ohio acquired a new position in Kimball Electronics in the 2nd quarter worth about $29,000. CWM LLC raised its position in Kimball Electronics by 135.2% in the fourth quarter. CWM LLC now owns 1,244 shares of the electronics maker's stock valued at $35,000 after purchasing an additional 715 shares during the last quarter. Farther Finance Advisors LLC bought a new position in Kimball Electronics in the fourth quarter valued at about $35,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Kimball Electronics during the fourth quarter valued at about $38,000. 75.99% of the stock is currently owned by institutional investors and hedge funds.

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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