Kimball Electronics, Inc. (NASDAQ:KE) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Separately, ValuEngine lowered Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd.

Kimball Electronics (KE) traded down $2.35 during midday trading on Friday, hitting $19.50. 148,897 shares of the company traded hands, compared to its average volume of 54,988. The firm has a market cap of $536.78 million, a P/E ratio of 16.81 and a beta of 1.01.

Kimball Electronics (NASDAQ:KE) last issued its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $0.31 EPS for the quarter. Kimball Electronics had a return on equity of 9.74% and a net margin of 3.40%. The firm had revenue of $253.20 million during the quarter.

Kimball Electronics declared that its board has authorized a share buyback program on Thursday, August 24th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 42% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new position in shares of Kimball Electronics in the 2nd quarter valued at $140,000. Hancock Holding Co. acquired a new position in shares of Kimball Electronics in the 2nd quarter valued at $185,000. Karp Capital Management Corp acquired a new position in shares of Kimball Electronics in the 1st quarter valued at $193,000. Nordea Investment Management AB lifted its stake in shares of Kimball Electronics by 32.1% in the 2nd quarter. Nordea Investment Management AB now owns 10,700 shares of the electronics maker’s stock valued at $193,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in shares of Kimball Electronics in the 1st quarter valued at $204,000. 55.07% of the stock is currently owned by institutional investors.

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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