StockNews.com Upgrades Kimball Electronics (NASDAQ:KE) to “Buy”

Kimball Electronics (NASDAQ:KE) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Separately, Lake Street Capital dropped their price target on Kimball Electronics from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kimball Electronics currently has an average rating of “Moderate Buy” and an average target price of $22.75.

Kimball Electronics Trading Down 3.4 %

Shares of KE stock opened at $16.82 on Thursday. The stock has a 50-day simple moving average of $18.77 and a 200 day simple moving average of $18.95. The stock has a market capitalization of $415.12 million, a P/E ratio of 32.98 and a beta of 1.24. Kimball Electronics has a fifty-two week low of $16.64 and a fifty-two week high of $24.45. The company has a quick ratio of 1.30, a current ratio of 2.28 and a debt-to-equity ratio of 0.37.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. Kimball Electronics had a net margin of 0.78% and a return on equity of 5.63%. On average, sell-side analysts expect that Kimball Electronics will post 1.06 earnings per share for the current fiscal year.

Institutional Trading of Kimball Electronics

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Kimball Electronics by 0.7% during the third quarter. Geode Capital Management LLC now owns 577,229 shares of the electronics maker’s stock valued at $10,686,000 after buying an additional 4,044 shares in the last quarter. State Street Corp grew its stake in Kimball Electronics by 1.4% during the 3rd quarter. State Street Corp now owns 565,069 shares of the electronics maker’s stock valued at $10,459,000 after acquiring an additional 7,864 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Kimball Electronics by 11.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 303,629 shares of the electronics maker’s stock valued at $5,620,000 after purchasing an additional 29,993 shares during the period. Grace & White Inc. NY lifted its position in shares of Kimball Electronics by 5.5% in the fourth quarter. Grace & White Inc. NY now owns 270,877 shares of the electronics maker’s stock worth $5,074,000 after purchasing an additional 14,100 shares in the last quarter. Finally, Foundry Partners LLC boosted its holdings in shares of Kimball Electronics by 1.0% during the third quarter. Foundry Partners LLC now owns 219,055 shares of the electronics maker’s stock worth $4,055,000 after purchasing an additional 2,100 shares during the period. 75.99% of the stock is owned by institutional investors and hedge funds.

About Kimball Electronics

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.