Kimball Electronics, Inc. Receives Moderate Buy Rating from Analysts

Kimball Electronics, Inc. (NASDAQ:KE - Get Free Report) has recently received a consensus rating of "Moderate Buy" from five research firms currently covering the stock, according to reports from Marketbeat Ratings. Among these, two equities research analysts have issued a hold recommendation, while three have provided a buy recommendation for the company. The average 12-month target price set by analysts who have rated the stock over the past year is $22.75.

Several analysts have had their say regarding Kimball Electronics' stock. For instance, Lake Street Capital adjusted their price target from $23.00 to $21.00, maintaining a "buy" rating in a report released on Thursday. In another update, StockNews.com upgraded Kimball Electronics from a "hold" rating to a "buy" rating in their report, also published on Thursday.

Institutional Investors Update

Recently, institutional investors and hedge funds have made adjustments to their positions in Kimball Electronics. For example, Geode Capital Management LLC raised its stake in the company by 0.7% during the third quarter. After acquiring an additional 4,044 shares, Geode now holds a total of 577,229 shares valued at approximately $10,686,000. State Street Corp similarly increased its stake by 1.4% during the same period, owning 565,069 shares worth $10,459,000 after a purchase of 7,864 shares.

Assenagon Asset Management S.A. also raised its stake by 11.0% in the third quarter, amassing a total of 303,629 shares valued at $5,620,000 following an acquisition of 29,993 shares. Grace & White Inc. NY grew its stake by 5.5% in the fourth quarter, now owning 270,877 shares worth $5,074,000 after increasing their holdings by 14,100 shares. Lastly, Foundry Partners LLC expanded its stake by 1.0% in the third quarter, now holding 219,055 shares valued at $4,055,000 after purchasing an additional 2,100 shares. Notably, institutional investors and hedge funds currently own 75.99% of Kimball Electronics' stock.

Stock Performance Overview

On Thursday, Kimball Electronics' shares (NASDAQ:KE) traded down by $0.59, positioning the stock price at $17.41. During this trading session, 199,084 shares changed hands, exceeding the average trading volume of 117,654 shares. Over the past year, the stock has reached a low of $16.64 and a high of $24.45. At present, the company has a market capitalization of $429.68 million, with a price-to-earnings (PE) ratio of 34.14 and a beta of 1.24. The stock's 50-day moving average price is $18.81, while the 200-day moving average price stands at $18.96. Additionally, Kimball Electronics boasts a current ratio of 2.28, a quick ratio of 1.30, and a debt-to-equity ratio of 0.37.

In its latest quarterly earnings report released on February 4th, Kimball Electronics announced earnings per share (EPS) of $0.29, which surpassed the consensus estimate of $0.24 by $0.05. The company reported a return on equity of 5.63% and a net margin of 0.78%. Analysts anticipate that Kimball Electronics will achieve an EPS of 1.06 for the current fiscal year.

About Kimball Electronics

Kimball Electronics, Inc. specializes in providing electronics manufacturing, engineering, and supply chain support services to a variety of sectors, including automotive, medical, and industrial markets. The company also offers contract manufacturing services, which encompass engineering and supply chain support for producing electronic assemblies and other products, including non-electronic components, medical devices, and precision molded plastics. Furthermore, Kimball focuses on automation, as well as test and inspection equipment primarily used in automotive, medical, and industrial applications.

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