Kimball Electronics (NASDAQ:KE) Trading Down 10.2% – Here’s What Happened

Shares of Kimball Electronics, Inc. (NASDAQ:KE) were down 10.2% during mid-day trading on Tuesday . The company traded as low as $24.54 and last traded at $24.12. 47,909 shares changed hands 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 Analysts Forecast Growth

A number of analysts have commented on the company. KeyCorp began coverage on Kimball Electronics in a research report on Thursday, July 2nd. They issued a “sector weight” rating for the company. Zacks Research raised shares of Kimball Electronics from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Wall Street Zen lowered Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Kimball Electronics in a research report on Tuesday, August 4th. One equities research 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 stock. According to MarketBeat.com, Kimball Electronics presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Kimball Electronics Stock Down 3.6%

The firm has a fifty day moving average price of $25.15 and a 200 day moving average price of $25.25. The company has a quick ratio of 1.29, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The company has a market cap of $570.47 million, a P/E ratio of 20.99, a PEG ratio of 1.09 and a beta of 1.23.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings data 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 4.42%. The company had revenue of $371.57 million during the quarter, compared to analyst estimates of $373.63 million. Equities research analysts forecast that Kimball Electronics, Inc. will post 1.13 earnings per share for the current year.

Hedge Funds Weigh In On Kimball Electronics

Hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new position in Kimball Electronics during the 2nd quarter valued at about $519,000. Wellington Management Group LLP bought a new stake in shares of Kimball Electronics during the 2nd quarter valued at $872,000. Empowered Funds LLC acquired a new position in shares of Kimball Electronics in the 2nd quarter valued at $3,571,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Kimball Electronics during the second quarter worth $29,000. Finally, Bank of America Corp DE acquired a new position in Kimball Electronics in the second quarter valued at about $30,505,000. Institutional investors own 75.99% of the company’s stock.

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.