Kimball Electronics, Inc. (NASDAQ:KE – Get Free Report) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $25.19, but opened at $22.95. Kimball Electronics shares last traded at $23.5050, with a volume of 32,009 shares trading hands.
The electronics maker reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Kimball Electronics had a return on equity of 6.22% and a net margin of 1.81%.The business had revenue of $371.57 million for the quarter, compared to analyst estimates of $373.36 million.
Analyst Upgrades and Downgrades
Several analysts have commented on the company. Wall Street Zen downgraded Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings restated a “hold (c)” rating on shares of Kimball Electronics in a research note on Tuesday, August 4th. Zacks Research raised Kimball Electronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Finally, KeyCorp started coverage on shares of Kimball Electronics in a research report on Thursday, July 2nd. They issued a “sector weight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.
Institutional Investors Weigh In On Kimball Electronics
Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP purchased a new position in shares of Kimball Electronics during the third quarter valued at approximately $28,000. Raymond James Financial Inc. acquired a new position in Kimball Electronics in the 2nd quarter valued at $34,000. Farther Finance Advisors LLC acquired a new position in Kimball Electronics in the 4th quarter valued at $35,000. CWM LLC lifted its stake 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 purchasing an additional 715 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of Kimball Electronics during the 4th quarter worth $38,000. 75.99% of the stock is currently owned by hedge funds and other institutional investors.
Kimball Electronics Stock Down 8.1%
The firm has a fifty day moving average price of $25.13 and a 200-day moving average price of $25.41. 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 firm has a market cap of $556.73 million, a price-to-earnings ratio of 22.26, a PEG ratio of 1.12 and a beta of 1.23.
Kimball Electronics Company Profile
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.
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