Kimball Electronics, Inc. (NASDAQ:KE) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Kimball Electronics, Inc. (NASDAQ:KE - Get Free Report) have been given a consensus rating of "Moderate Buy" by five research firms currently covering the stock, according to reports from Marketbeat Ratings. Out of these, two analysts recommended holding the stock while three analysts suggested buying it. The average target price for Kimball Electronics among these analysts stands at $22.75 for the next twelve months.

Recently, several research analysts have provided new insights about the stock. Lake Street Capital lowered their price target for Kimball Electronics from $23.00 to $21.00, maintaining a "buy" rating in their report. Moreover, StockNews.com upgraded their position on Kimball Electronics from "hold" to "buy" in a recent publication.

Institutional Investors Weigh In

Institutional investors and hedge funds have been making adjustments to their holdings in Kimball Electronics. For example, Geode Capital Management LLC increased its stake by 0.7% during the third quarter and now possesses 577,229 shares valued at approximately $10,686,000 after purchasing an additional 4,044 shares. Another firm, State Street Corp, boosted its stake by 1.4%, now owning 565,069 shares worth around $10,459,000 after acquiring an extra 7,864 shares.

Assenagon Asset Management S.A. also expanded its stake by 11.0%, bringing their total to 303,629 shares valued at $5,620,000 after purchasing 29,993 additional shares. Similarly, Grace & White Inc. NY increased its stake by 5.5%, owning 270,877 shares valued at $5,074,000 after an additional purchase of 14,100 shares. Foundry Partners LLC raised its stake by 1.0%, now holding 219,055 shares worth about $4,055,000 after buying 2,100 more shares. Institutional and hedge fund investors collectively own 75.99% of Kimball Electronics' total stock.

Kimball Electronics Stock Performance

In trading on Thursday, shares of NASDAQ:KE fell by $0.59, closing at $17.41. During this trading session, 199,084 shares exchanged hands, higher than the average volume of 117,654. The stock has recorded a 12-month low of $16.64 and a high of $24.45. Kimball Electronics has a market capitalization of $429.68 million, with a price-to-earnings ratio of 34.14 and a beta of 1.24. The current 50-day moving average price stands at $18.81 while the 200-day moving average is $18.96. The company has a current ratio of 2.28, a quick ratio of 1.30, and a debt-to-equity ratio of 0.37.

On February 4th, Kimball Electronics announced its quarterly earnings results, reporting earnings per share (EPS) of $0.29, which surpassed the consensus estimate of $0.24 by $0.05. The company achieved a return on equity of 5.63%, with a net margin of 0.78%. Analysts are predicting that Kimball Electronics will report an EPS of 1.06 for the current fiscal year.

Company Profile

Kimball Electronics, Inc. specializes in offering electronics manufacturing, engineering, and supply chain support services primarily to clients in the automotive, medical, and industrial sectors. Additionally, the company provides contract manufacturing services, which include engineering support for producing electronic assemblies, medical devices, disposables, and other products, along with automation, testing, and inspection equipment utilized mainly in automotive and medical applications.

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