Kimball Electronics (NASDAQ:KE) Shares Pass Below 50 Day Moving Average – Here’s Why

Kimball Electronics, Inc. (NASDAQ:KE)’s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $25.68 and traded as low as $23.85. Kimball Electronics shares last traded at $24.90, with a volume of 163,505 shares traded.

Wall Street Analyst Weigh In

A number of analysts have commented on KE shares. Zacks Research raised Kimball Electronics from a “strong sell” rating to a “hold” rating in a report on Friday, June 5th. Wall Street Zen raised Kimball Electronics from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Finally, Weiss Ratings upgraded Kimball Electronics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Kimball Electronics presently has an average rating of “Moderate Buy” and an average target price of $32.00.

Kimball Electronics Trading Up 1.6%

The firm has a market capitalization of $598.85 million, a PE ratio of 23.94, a PEG ratio of 1.02 and a beta of 1.22. The firm’s fifty day moving average is $25.68 and its two-hundred day moving average is $26.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.29.

Kimball Electronics (NASDAQ:KE) last issued its quarterly earnings data on Tuesday, May 5th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The firm had revenue of $352.92 million during the quarter, compared to the consensus estimate of $356.27 million. Kimball Electronics had a return on equity of 6.22% and a net margin of 1.81%. On average, equities analysts predict that Kimball Electronics, Inc. will post 1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Kimball Electronics

Several institutional investors have recently modified their holdings of KE. Parallel Advisors LLC increased its position in shares of Kimball Electronics by 122.8% during the first quarter. Parallel Advisors LLC now owns 2,324 shares of the electronics maker’s stock valued at $55,000 after acquiring an additional 1,281 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Kimball Electronics by 74.6% during the first quarter. NewEdge Advisors LLC now owns 187,186 shares of the electronics maker’s stock worth $4,434,000 after acquiring an additional 80,000 shares during the period. Empowered Funds LLC boosted its position in Kimball Electronics by 82.7% in the first quarter. Empowered Funds LLC now owns 215,283 shares of the electronics maker’s stock worth $5,100,000 after purchasing an additional 97,459 shares during the last quarter. Quantinno Capital Management LP boosted its position in Kimball Electronics by 2.4% in the first quarter. Quantinno Capital Management LP now owns 31,578 shares of the electronics maker’s stock worth $748,000 after purchasing an additional 734 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in Kimball Electronics by 13.8% in the 1st quarter. Lazard Asset Management LLC now owns 164,519 shares of the electronics maker’s stock valued at $3,897,000 after purchasing an additional 19,973 shares during the period. 75.99% of the stock is owned by institutional investors.

About Kimball Electronics

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.