BidaskClub lowered shares of Kimball Electronics, Inc. (NASDAQ:KE) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

Separately, ValuEngine cut Kimball Electronics from a buy rating to a hold rating in a research note on Monday, October 2nd.

Shares of Kimball Electronics (NASDAQ KE) traded down $0.50 during midday trading on Friday, reaching $19.50. The company’s stock had a trading volume of 148,897 shares, compared to its average volume of 54,988. The stock has a market capitalization of $523.36, a price-to-earnings ratio of 16.39 and a beta of 1.01.

Kimball Electronics (NASDAQ:KE) last issued its earnings results on Wednesday, November 1st. The electronics maker reported $0.31 earnings per share for the quarter. Kimball Electronics had a return on equity of 9.74% and a net margin of 3.40%. The firm had revenue of $253.20 million for the quarter.

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Kimball Electronics declared that its board has initiated a stock buyback program on Thursday, August 24th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the electronics maker to buy up to 42% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Several large investors have recently added to or reduced their stakes in KE. BKD Wealth Advisors LLC bought a new position in Kimball Electronics during the second quarter valued at about $7,324,000. LSV Asset Management boosted its stake in Kimball Electronics by 280.4% during the second quarter. LSV Asset Management now owns 491,983 shares of the electronics maker’s stock valued at $8,880,000 after buying an additional 362,655 shares in the last quarter. AJO LP bought a new position in Kimball Electronics during the second quarter valued at about $3,879,000. Renaissance Technologies LLC boosted its stake in Kimball Electronics by 44.0% during the first quarter. Renaissance Technologies LLC now owns 350,575 shares of the electronics maker’s stock valued at $5,942,000 after buying an additional 107,200 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Kimball Electronics by 37.5% during the second quarter. Russell Investments Group Ltd. now owns 257,116 shares of the electronics maker’s stock valued at $4,641,000 after buying an additional 70,182 shares in the last quarter. 55.07% of the stock is owned by institutional investors.

Kimball Electronics Company Profile

Kimball Electronics, Inc (Kimball Electronics) is an electronics manufacturing services (EMS) company. The Company is engaged in producing electronics for the automotive, medical, industrial and public safety markets. It provides design, engineering, manufacturing, packaging and distribution of electronic assemblies and circuit boards on a contract basis to a range of industries.

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