Kimball Electronics (NASDAQ:KE) Raised to Strong-Buy at Zacks Research

Kimball Electronics (NASDAQ:KE) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded shares of Kimball Electronics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Finally, KeyCorp initiated coverage on shares of Kimball Electronics in a report on Thursday, July 2nd. They issued a “sector weight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Kimball Electronics Stock Down 4.1%

Kimball Electronics stock opened at $24.63 on Monday. The stock has a 50 day moving average of $25.44 and a two-hundred day moving average of $26.19. Kimball Electronics has a twelve month low of $18.04 and a twelve month high of $33.19. The stock has a market capitalization of $592.35 million, a price-to-earnings ratio of 23.68, a PEG ratio of 1.07 and a beta of 1.22. The company has a current ratio of 2.11, a quick ratio of 1.29 and a debt-to-equity ratio of 0.22.

Kimball Electronics (NASDAQ:KE) last released its earnings results on Tuesday, May 5th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Kimball Electronics had a net margin of 1.81% and a return on equity of 6.22%. The company had revenue of $352.92 million during the quarter, compared to analyst estimates of $356.27 million. As a group, research analysts expect that Kimball Electronics will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KE. Royal Bank of Canada lifted its holdings in Kimball Electronics by 5.8% in 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 period. AQR Capital Management LLC grew its stake in shares of Kimball Electronics by 24.0% during the 1st quarter. AQR Capital Management LLC now owns 259,734 shares of the electronics maker’s stock worth $4,273,000 after purchasing an additional 50,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kimball Electronics by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,687 shares of the electronics maker’s stock worth $242,000 after purchasing an additional 624 shares during the period. Empowered Funds LLC increased its holdings in shares of Kimball Electronics by 8.3% in the 1st quarter. Empowered Funds LLC now owns 88,650 shares of the electronics maker’s stock valued at $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 in the 1st quarter valued at about $411,000. Institutional investors and hedge funds own 75.99% of the company’s stock.

Kimball Electronics Company Profile

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.