Roth Capital Begins Coverage on Kimball Electronics (NASDAQ:KE)

Equities researchers at Roth Capital initiated coverage on shares of Kimball Electronics (NASDAQ:KE) in a research note issued to investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $37.00 price target on the electronics maker’s stock. Roth Capital‘s price target points to a potential upside of 89.45% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Zacks Research downgraded shares of Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Cantor Fitzgerald dropped coverage on shares of Kimball Electronics in a research report on Monday, October 12th. They set an “overweight” rating for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Kimball Electronics in a research note on Monday, November 2nd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Kimball Electronics presently has an average rating of “Hold” and an average price target of $37.00.

Kimball Electronics Stock Performance

Shares of KE opened at $19.53 on Thursday. Kimball Electronics has a 1 year low of $19.10 and a 1 year high of $32.00. The stock has a market capitalization of $468.33 million, a PE ratio of 26.64 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. The stock has a 50-day simple moving average of $25.76 and a 200-day simple moving average of $25.41.

Kimball Electronics (NASDAQ:KE) last released its 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). Kimball Electronics had a return on equity of 3.09% and a net margin of 1.41%. The firm had revenue of $390.80 million for the quarter, compared to analysts’ expectations of $387.20 million. On average, analysts predict that Kimball Electronics will post 1.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kimball Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Kimball Electronics during the second quarter worth approximately $62,468,000. Bank of America Corp DE purchased a new position in shares of Kimball Electronics in the 2nd quarter valued at $30,505,000. Oxford Financial Group LTD. LLC purchased a new position in shares of Kimball Electronics in the 2nd quarter valued at $7,314,000. NewEdge Advisors LLC raised its stake in Kimball Electronics by 7.9% during the 2nd quarter. NewEdge Advisors LLC now owns 201,940 shares of the electronics maker’s stock worth $5,170,000 after acquiring an additional 14,754 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in Kimball Electronics by 82.7% during the 1st 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 in the last quarter. 75.99% of the stock is owned by institutional investors and hedge funds.

About Kimball Electronics

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.