Kimball Electronics (NASDAQ:KE) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

Kimball Electronics, Inc. (NASDAQ:KE)’s share price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $24.80 and traded as high as $26.71. Kimball Electronics shares last traded at $26.66, with a volume of 186,098 shares.

Analysts Set New Price Targets

A number of research firms have weighed in on KE. Zacks Research upgraded Kimball Electronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kimball Electronics in a research note on Tuesday, August 4th. KeyCorp started coverage on shares of Kimball Electronics in a research report on Thursday, July 2nd. They set a “sector weight” rating on the stock. Finally, Wall Street Zen downgraded shares of Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Kimball Electronics Price Performance

The stock has a market cap of $658.70 million, a PE ratio of 24.32, a P/E/G ratio of 1.13 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.09 and a quick ratio of 1.27. The business has a fifty day moving average of $24.91 and a 200 day moving average of $25.07.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings data 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 business had revenue of $371.57 million for the quarter, compared to analysts’ expectations of $373.63 million. Sell-side analysts anticipate that Kimball Electronics, Inc. will post 1.18 earnings per share for the current year.

Institutional Trading of Kimball Electronics

Several institutional investors have recently added to or reduced their stakes in KE. BlackRock Inc. acquired a new position in Kimball Electronics during the 2nd quarter worth $62,468,000. Bank of America Corp DE acquired a new stake in shares of Kimball Electronics in the 2nd quarter valued at about $30,505,000. BNP Paribas Financial Markets raised its stake in shares of Kimball Electronics by 2.2% in the 4th quarter. BNP Paribas Financial Markets now owns 266,694 shares of the electronics maker’s stock valued at $7,419,000 after purchasing an additional 5,844 shares in the last quarter. Oxford Financial Group LTD. LLC bought a new position in shares of Kimball Electronics during the second quarter worth about $7,314,000. Finally, Hillsdale Investment Management Inc. lifted its position in shares of Kimball Electronics by 1.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 231,670 shares of the electronics maker’s stock worth $6,445,000 after purchasing an additional 2,400 shares during the last quarter. 75.99% of the stock is owned by institutional investors and hedge funds.

About Kimball Electronics

Kimball Electronics, Inc (NASDAQ: KE) is a contract manufacturing services provider that designs and manufactures electronic and electromechanical products for customers in the automotive, medical, and industrial markets. The company supports customers from product development through production, offering engineering, supply chain management, manufacturing, testing, and final assembly services.

Its capabilities include the production of printed circuit board assemblies, electronic modules, cable and wire harnesses, medical devices, automotive components, and industrial control products.