Kimball Electronics (NASDAQ:KE) Stock Crosses Below 50-Day Moving Average – Time to Sell?

Kimball Electronics, Inc. (NASDAQ:KE)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $25.24 and traded as low as $24.68. Kimball Electronics shares last traded at $24.74, with a volume of 125,599 shares changing hands.

Analyst Upgrades and Downgrades

KE has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings raised shares of Kimball Electronics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Kimball Electronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Finally, KeyCorp began coverage on shares of Kimball Electronics in a research note on Thursday, July 2nd. They set a “sector weight” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Kimball Electronics Trading Down 1.6%

The company’s fifty day moving average is $25.24 and its two-hundred day moving average is $26.03. The company has a quick ratio of 1.29, a current ratio of 2.11 and a debt-to-equity ratio of 0.22. The stock has a market cap of $595.00 million, a price-to-earnings ratio of 23.79, a PEG ratio of 1.12 and a beta of 1.22.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings results on Tuesday, May 5th. The electronics maker reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). Kimball Electronics had a return on equity of 6.22% and a net margin of 1.81%.The firm had revenue of $352.92 million for the quarter, compared to analyst estimates of $356.27 million. On average, research analysts predict that Kimball Electronics, Inc. will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Kimball Electronics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP acquired a new stake in Kimball Electronics in the third quarter valued at $28,000. CWM LLC raised its position in shares of Kimball Electronics by 135.2% during the 4th quarter. CWM LLC now owns 1,244 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 715 shares in the last quarter. Farther Finance Advisors LLC purchased a new stake in Kimball Electronics during the fourth quarter worth approximately $35,000. Kestra Advisory Services LLC acquired a new position in Kimball Electronics in the fourth quarter valued at approximately $38,000. Finally, California State Teachers Retirement System increased its stake in Kimball Electronics by 99.7% in the fourth quarter. California State Teachers Retirement System now owns 1,498 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 748 shares during the last quarter. Institutional investors and hedge funds own 75.99% of the company’s stock.

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.