Kimball Electronics Inc. (KE) Upgraded to “Hold” at Zacks Investment Research
According to Zacks, “Kimball Electronics Inc. operates as a contract manufacturer of durable goods electronics. The Company specializes in durable electronics for the medical, automotive, 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 variety of industries. The Company has manufacturing operations primarily in the United States, Mexico, Thailand, Poland, and China. Kimball Electronics Inc. is headquartered in Jasper, Indiana. “
Separately, B. Riley reaffirmed a buy rating and issued a $12.75 price objective on shares of Kimball Electronics in a research note on Tuesday, August 2nd.
Kimball Electronics (NASDAQ:KE) opened at 13.86 on Wednesday. The stock’s 50 day moving average is $12.54 and its 200 day moving average is $11.92. The company has a market capitalization of $390.23 million, a PE ratio of 18.24 and a beta of 0.91. Kimball Electronics has a 52 week low of $9.15 and a 52 week high of $14.28.
Kimball Electronics (NASDAQ:KE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. Kimball Electronics had a net margin of 2.65% and a return on equity of 6.98%. The firm had revenue of $220.40 million for the quarter, compared to analyst estimates of $201.13 million. Analysts predict that Kimball Electronics will post $0.86 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. increased its stake in Kimball Electronics by 10.9% in the second quarter. Alliancebernstein L.P. now owns 12,184 shares of the company’s stock valued at $152,000 after buying an additional 1,200 shares in the last quarter. BlackRock Group LTD increased its stake in Kimball Electronics by 83.7% in the second quarter. BlackRock Group LTD now owns 13,071 shares of the company’s stock valued at $162,000 after buying an additional 5,957 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Kimball Electronics by 21.6% in the second quarter. Parametric Portfolio Associates LLC now owns 13,103 shares of the company’s stock valued at $163,000 after buying an additional 2,331 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Kimball Electronics during the second quarter valued at approximately $165,000. Finally, LSV Asset Management purchased a new stake in Kimball Electronics during the second quarter valued at approximately $214,000. 54.84% of the stock is currently owned by hedge funds and other institutional investors.
About Kimball Electronics
Kimball Electronics, Inc (Kimball Electronics) is engaged in providing engineering, manufacturing and supply chain services. The Company offers its services to customers in the automotive, medical, industrial and public safety end markets. The Company offers engineering, manufacturing and supply chain services, such as design services; rapid prototyping and new product introduction support; production and testing of printed circuit board assemblies (PCBAS); industrialization and automation of manufacturing processes; product design and process validation and qualification; reliability testing, which include testing of products under a series of different environmental conditions; assembly, production and packaging of other related non-electronic products; supply chain services, and product life cycle management.
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