Cantor Fitzgerald Drops Coverage on Kimball Electronics (NASDAQ:KE)

Equities researchers at Cantor Fitzgerald dropped coverage on shares of Kimball Electronics (NASDAQ:KE) in a research report issued to clients and investors on Monday, October 12th, Benzinga reports. The brokerage had previously set an “overweight” rating on the electronics maker’s stock.

A number of other analysts have also issued reports on the company. KeyCorp assumed coverage on shares of Kimball Electronics in a research note on Thursday, July 2nd. They set a “sector weight” rating for the company. Wall Street Zen cut Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Zacks Research raised Kimball Electronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Kimball Electronics in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.00.

Kimball Electronics Price Performance

NASDAQ:KE traded up $0.48 during trading hours on Monday, hitting $27.03. The company’s stock had a trading volume of 203,910 shares, compared to its average volume of 180,944. Kimball Electronics has a 52-week low of $21.01 and a 52-week high of $32.00. The business’s 50-day moving average is $25.82 and its two-hundred day moving average is $25.77. 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 company has a market capitalization of $648.50 million, a PE ratio of 23.92, a PEG ratio of 0.97 and a beta of 1.24.

Kimball Electronics (NASDAQ:KE) last released its quarterly earnings data on Wednesday, August 12th. The electronics maker reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Kimball Electronics had a net margin of 1.95% and a return on equity of 4.41%. The firm had revenue of $371.57 million during the quarter, compared to the consensus estimate of $373.63 million. As a group, research analysts anticipate that Kimball Electronics will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Kimball Electronics

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

About Kimball Electronics

Kimball Electronics, Inc is a contract manufacturing and engineering services company that helps original equipment manufacturers design, develop and produce electronic and electrical products. The company provides services spanning product design and development, prototyping, testing, manufacturing, supply chain management and aftermarket support.

Kimball Electronics serves customers in the automotive, medical and industrial markets. Its manufacturing capabilities support products and systems such as automotive electronics, medical devices and equipment, industrial controls, power-management products and other complex electronic assemblies.