Kimball Electronics (NASDAQ:KE) Stock Rating Cut to Hold at Zacks Research

Zacks Research lowered shares of Kimball Electronics (NASDAQ:KE) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks reports.

KE has been the topic of a number of other reports. Weiss Ratings restated a “hold (c)” rating on shares of Kimball Electronics in a research note on Tuesday, August 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Kimball Electronics in a report on Monday, October 12th. Wall Street Zen downgraded shares of Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, KeyCorp began coverage on shares of Kimball Electronics in a research note on Thursday, July 2nd. They issued a “sector weight” rating for the company. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.00.

Kimball Electronics Price Performance

Shares of NASDAQ KE opened at $26.16 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.09 and a quick ratio of 1.27. The company has a market cap of $627.58 million, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 1.04 and a beta of 1.24. The stock’s 50-day moving average is $25.85 and its two-hundred day moving average is $25.58. Kimball Electronics has a 1-year low of $21.01 and a 1-year high of $32.00.

Kimball Electronics (NASDAQ:KE) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $373.63 million. Kimball Electronics had a net margin of 1.95% and a return on equity of 4.41%. Analysts forecast that Kimball Electronics will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Kimball Electronics

Several hedge funds and other institutional investors have recently made changes to their positions in KE. BlackRock Inc. acquired a new position in Kimball Electronics in the second quarter valued at approximately $62,468,000. Bank of America Corp DE purchased a new position in Kimball Electronics in the second quarter valued at approximately $30,505,000. Oxford Financial Group LTD. LLC purchased a new position in Kimball Electronics in the second quarter valued at approximately $7,314,000. Empowered Funds LLC purchased a new position in Kimball Electronics in the second quarter valued at approximately $3,571,000. Finally, Man Group plc acquired a new stake in Kimball Electronics during the second quarter worth approximately $3,325,000. Institutional investors and hedge funds own 75.99% of the company’s stock.

Kimball Electronics Company Profile

Kimball Electronics, Inc is a contract manufacturer that provides electronic manufacturing services, engineering support and supply-chain solutions for original equipment manufacturers. The company helps customers design, build, test and manage products ranging from circuit-board assemblies to complete, integrated systems.

Kimball Electronics serves a diverse group of markets, including automotive, medical, industrial and public safety applications. Its capabilities include printed circuit board assembly, box-build and system integration, prototyping, product testing, tooling, automation and other manufacturing services.