Kimball Electronics (NASDAQ:KE) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Kimball Electronics, Inc. (NASDAQ:KE) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $28.70 and traded as low as $23.19. Kimball Electronics shares last traded at $24.15, with a volume of 151,557 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KE. Lake Street Capital reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Kimball Electronics in a report on Friday, November 7th. Wall Street Zen cut Kimball Electronics from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Kimball Electronics in a research note on Friday, January 9th. Finally, Zacks Research lowered shares of Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Kimball Electronics Trading Down 1.2%

The company’s fifty day simple moving average is $27.65 and its two-hundred day simple moving average is $28.65. The company has a quick ratio of 1.31, a current ratio of 2.21 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $587.82 million, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 0.90 and a beta of 1.20.

Kimball Electronics (NASDAQ:KE) last released its quarterly earnings results on Wednesday, February 4th. The electronics maker reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. Kimball Electronics had a net margin of 1.65% and a return on equity of 6.09%. The company had revenue of $341.28 million during the quarter, compared to analysts’ expectations of $339.34 million. Research analysts forecast that Kimball Electronics, Inc. will post 0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kimball Electronics

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Kimball Electronics in the 3rd quarter valued at about $28,000. State of Alaska Department of Revenue bought a new position in shares of Kimball Electronics during the third quarter valued at $31,000. Raymond James Financial Inc. bought a new position in shares of Kimball Electronics during the second quarter worth about $34,000. Farther Finance Advisors LLC bought a new position in Kimball Electronics during the fourth quarter worth $35,000. Finally, CWM LLC grew its stake in Kimball Electronics by 135.2% during the fourth quarter. CWM LLC now owns 1,244 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 715 shares during the period. 75.99% of the stock is currently owned by institutional investors and hedge funds.

About Kimball Electronics

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company’s core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.