Kimball Electronics (NASDAQ:KE) Shares Cross Above 50 Day Moving Average – Here’s Why

by · The Markets Daily

Kimball Electronics, Inc. (NASDAQ:KE – Get Free Report)’s share price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $25.65 and traded as high as $29.10. Kimball Electronics shares last traded at $28.79, with a volume of 275,232 shares.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KE. Wall Street Zen lowered shares of Kimball Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. KeyCorp began coverage on shares of Kimball Electronics in a research report 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 research note on Tuesday, August 4th. Finally, Zacks Research upgraded Kimball Electronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.00.

Get Our Latest Report on KE

Kimball Electronics Stock Performance

The company has a market cap of $688.09 million, a price-to-earnings ratio of 25.38, a P/E/G ratio of 1.14 and a beta of 1.24. The company has a current ratio of 2.09, a quick ratio of 1.27 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $25.73 and its 200 day moving average price is $25.44.

Kimball Electronics (NASDAQ:KE – Get Free Report) last released its 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). Kimball Electronics had a return on equity of 4.41% and a net margin of 1.95%. The company had revenue of $371.57 million during the quarter, compared to analyst estimates of $373.63 million. On average, analysts expect that Kimball Electronics, Inc. will post 1.27 EPS for the current fiscal year.

Institutional Trading of Kimball Electronics

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Kimball Electronics in the second quarter valued at $62,468,000. Bank of America Corp DE acquired a new stake in Kimball Electronics during the second quarter worth about $30,505,000. Oxford Financial Group LTD. LLC purchased a new position in shares of Kimball Electronics in the 2nd quarter worth about $7,314,000. Assenagon Asset Management S.A. raised its holdings in shares of Kimball Electronics by 31.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 226,492 shares of the electronics maker’s stock worth $5,366,000 after purchasing an additional 54,578 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Kimball Electronics by 7.9% in the 2nd quarter. NewEdge Advisors LLC now owns 201,940 shares of the electronics maker’s stock valued at $5,170,000 after purchasing an additional 14,754 shares in the last quarter. 75.99% of the stock is currently owned by institutional investors and hedge funds.

About Kimball Electronics

(Get Free Report)

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.

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