Kimball Electronics, Inc. (NASDAQ:KE) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Shares of Kimball Electronics (NASDAQ:KE) traded up 4.98% during midday trading on Friday, reaching $21.10. The company’s stock had a trading volume of 256,280 shares. The stock has a 50 day moving average price of $19.07 and a 200-day moving average price of $17.69. The company has a market capitalization of $565.78 million, a price-to-earnings ratio of 17.02 and a beta of 0.98. Kimball Electronics has a 52-week low of $12.00 and a 52-week high of $21.10.

Kimball Electronics (NASDAQ:KE) last announced its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The business had revenue of $241.27 million for the quarter. Kimball Electronics had a return on equity of 9.24% and a net margin of 3.67%. Equities research analysts expect that Kimball Electronics will post $0.93 EPS for the current year.

Kimball Electronics declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 24th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the electronics maker to buy up to 42% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Kimball Electronics by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,295,943 shares of the electronics maker’s stock worth $38,916,000 after acquiring an additional 65,669 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Kimball Electronics by 2.7% during the second quarter. Vanguard Group Inc. now owns 1,176,252 shares of the electronics maker’s stock worth $21,231,000 after acquiring an additional 31,106 shares during the last quarter. State Street Corp raised its position in shares of Kimball Electronics by 8.6% during the second quarter. State Street Corp now owns 598,524 shares of the electronics maker’s stock worth $10,804,000 after acquiring an additional 47,269 shares during the last quarter. LSV Asset Management raised its position in shares of Kimball Electronics by 280.4% during the second quarter. LSV Asset Management now owns 491,983 shares of the electronics maker’s stock worth $8,880,000 after acquiring an additional 362,655 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Kimball Electronics by 6.9% during the first quarter. Geode Capital Management LLC now owns 430,495 shares of the electronics maker’s stock worth $7,296,000 after acquiring an additional 27,752 shares during the last quarter. Institutional investors own 56.86% of the company’s stock.

Kimball Electronics Company Profile

Kimball Electronics, Inc (Kimball Electronics) is an electronics manufacturing services (EMS) company. The Company is engaged in producing electronics for the automotive, medical, industrial and public safety markets. It provides design, engineering, manufacturing, packaging and distribution of electronic assemblies and circuit boards on a contract basis to a range of industries.

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