Kimball Electronics (NASDAQ:KE) Stock Price Passes Above 50 Day Moving Average - Here's Why

Key Points

• Kimball Electronics shares rose above their 50-day moving average, reaching $26.71 and last trading at $26.66, compared with a 50-day average of $24.80.
• Analyst sentiment is mixed but leans positive: the stock has a consensus “Moderate Buy” rating and a $32 average price target, despite recent hold and sector-weight ratings.
• The company’s latest quarterly results missed expectations, reporting a $0.01 loss per share versus a projected $0.39 profit, while revenue came in at $371.57 million against a $373.63 million consensus estimate.

Kimball Electronics, Inc. (NASDAQ:KE - Get Free Report)'s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $24.80 and traded as high as $26.71. Kimball Electronics shares last traded at $26.66, with a volume of 186,098 shares changing hands.

Wall Street Analyst Weigh In

KE has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Kimball Electronics from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. KeyCorp started coverage on shares of Kimball Electronics in a research note on Thursday, July 2nd. They set a "sector weight" rating on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Kimball Electronics in a report on Tuesday, August 4th. Finally, Zacks Research upgraded shares of Kimball Electronics from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. One research 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $32.00.

Kimball Electronics Stock Up 4.0%

The firm has a market cap of $639.04 million, a P/E ratio of 23.59, a P/E/G ratio of 1.09 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.27 and a current ratio of 2.09. The firm's fifty day moving average is $24.80 and its 200 day moving average is $25.02.

Kimball Electronics (NASDAQ:KE - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The electronics maker reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). Kimball Electronics had a net margin of 1.95% and a return on equity of 4.41%. The company had revenue of $371.57 million during the quarter, compared to the consensus estimate of $373.63 million. As a group, equities research analysts anticipate that Kimball Electronics, Inc. will post 1.18 earnings per share for the current fiscal year.

Institutional Trading of Kimball Electronics

Several hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in Kimball Electronics in the 2nd quarter worth about $29,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Kimball Electronics during the 2nd quarter worth approximately $50,000. Parallel Advisors LLC grew its position in shares of Kimball Electronics by 122.8% during the 1st quarter. Parallel Advisors LLC now owns 2,324 shares of the electronics maker's stock worth $55,000 after purchasing an additional 1,281 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Kimball Electronics during the second quarter worth approximately $55,000. Finally, State of Wyoming bought a new position in shares of Kimball Electronics during the second quarter worth approximately $71,000. 75.99% of the stock is owned by institutional investors and hedge funds.

Kimball Electronics Company Profile

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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