ValuEngine downgraded shares of Kimball Electronics (NASDAQ:KE) from a buy rating to a hold rating in a report released on Friday morning.

Separately, BidaskClub downgraded shares of Kimball Electronics from a strong-buy rating to a buy rating in a research report on Saturday, November 4th.

Shares of Kimball Electronics (NASDAQ:KE) opened at $20.35 on Friday. The firm has a market cap of $559.59, a P/E ratio of 17.52 and a beta of 0.94. Kimball Electronics has a 12-month low of $15.05 and a 12-month high of $22.45.

Kimball Electronics (NASDAQ:KE) last issued its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $0.31 earnings per share for the quarter. The business had revenue of $253.20 million during the quarter. Kimball Electronics had a net margin of 3.40% and a return on equity of 9.63%.

Kimball Electronics announced that its board has approved a stock repurchase plan on Thursday, August 24th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the electronics maker to reacquire up to 42% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Kimball Electronics by 0.9% in the 2nd quarter. Royal Bank of Canada now owns 27,225 shares of the electronics maker’s stock valued at $491,000 after buying an additional 237 shares during the period. Teachers Advisors LLC increased its stake in Kimball Electronics by 1.6% in the 2nd quarter. Teachers Advisors LLC now owns 65,940 shares of the electronics maker’s stock valued at $1,190,000 after buying an additional 1,051 shares during the period. Nationwide Fund Advisors increased its stake in Kimball Electronics by 0.8% in the 2nd quarter. Nationwide Fund Advisors now owns 184,678 shares of the electronics maker’s stock valued at $3,333,000 after buying an additional 1,476 shares during the period. Voya Investment Management LLC increased its stake in Kimball Electronics by 13.6% in the 2nd quarter. Voya Investment Management LLC now owns 16,463 shares of the electronics maker’s stock valued at $297,000 after buying an additional 1,972 shares during the period. Finally, Aperio Group LLC increased its stake in Kimball Electronics by 21.1% in the 2nd quarter. Aperio Group LLC now owns 13,795 shares of the electronics maker’s stock valued at $249,000 after buying an additional 2,399 shares during the period. Hedge funds and other institutional investors own 56.63% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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