Kimball Electronics, Inc. (NASDAQ:KE) Stock Has Average Target Price of $32.00

Kimball Electronics, Inc. (NASDAQ:KE) has been assigned a consensus recommendation of “Hold” from the three research firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation.

Several equities analysts recently weighed in on the company. Cantor Fitzgerald dropped coverage on Kimball Electronics in a research report on Monday, October 12th. They set an “overweight” rating on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Kimball Electronics in a report on Monday, November 2nd. Finally, Zacks Research downgraded shares of Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th.

Kimball Electronics Stock Down 1.9%

KE stock opened at $19.45 on Friday. The stock has a market capitalization of $466.41 million, a P/E ratio of 23.15 and a beta of 1.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.12 and a current ratio of 1.90. Kimball Electronics has a one year low of $19.10 and a one year high of $32.00. The company has a 50 day moving average price of $25.85 and a two-hundred day moving average price of $25.46.

Kimball Electronics (NASDAQ:KE) last issued its quarterly earnings results on Wednesday, November 4th. The electronics maker reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.15). The business had revenue of $390.80 million for the quarter, compared to analysts’ expectations of $387.20 million. Kimball Electronics had a return on equity of 3.09% and a net margin of 1.41%. As a group, sell-side analysts expect that Kimball Electronics will post 1.32 EPS for the current year.

Institutional Investors Weigh In On Kimball Electronics

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Kimball Electronics during the 2nd quarter worth $62,468,000. Bank of America Corp DE purchased a new stake in Kimball Electronics during the second quarter valued at about $30,505,000. Oxford Financial Group LTD. LLC purchased a new stake in Kimball Electronics during the second quarter valued at about $7,314,000. NewEdge Advisors LLC grew 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 during the period. Finally, Empowered Funds LLC increased its stake in Kimball Electronics by 82.7% during the first quarter. Empowered Funds LLC now owns 215,283 shares of the electronics maker’s stock worth $5,100,000 after acquiring an additional 97,459 shares during the last quarter. 75.99% of the stock is owned by institutional investors and hedge funds.

Kimball Electronics Company Profile

Kimball Electronics, Inc. is a contract manufacturer that provides engineering, supply chain, and manufacturing services for electronic and other products. Its work includes product design and development, assembly, testing, and related support services. The company serves customers in markets including medical, automotive, industrial, and public safety. Its services help customers bring products to market and manage production across their life cycles. Kimball Electronics traces its roots to electronics manufacturing operations established by Kimball International in 1961 and became an independent publicly traded company in 2014.