Kimball Electronics, Inc. Receives Moderate Buy Consensus Recommendation

Kimball Electronics, Inc. (NASDAQ:KE) has received a consensus rating of "Moderate Buy" from five research firms currently analyzing the stock, according to Marketbeat Ratings. Out of these analysts, two have suggested holding the stock, while three others have given it a buy recommendation. The average target price set by analysts for Kimball Electronics over the next twelve months is $22.75.

Various analysts have shared their insights regarding Kimball Electronics. On Thursday, Lake Street Capital reduced their price target for the stock from $23.00 to $21.00 while maintaining a "buy" rating. Additionally, StockNews.com has upgraded Kimball Electronics from a "hold" rating to a "buy" rating also on Thursday.

Institutional Investors Make Changes to Holdings

Recent activity from institutional investors and hedge funds has led to changes in their positions regarding Kimball Electronics. For instance, Geode Capital Management LLC raised its stake in the company by 0.7% during the third quarter, now owning 577,229 shares valued at approximately $10.69 million after acquiring an additional 4,044 shares. Similarly, State Street Corp has increased its holdings by 1.4%, resulting in ownership of 565,069 shares valued at about $10.46 million after purchasing 7,864 additional shares during the same quarter. Assenagon Asset Management S.A. also raised its stake by 11.0%, now holding 303,629 shares worth $5.62 million after buying 29,993 shares. Grace & White Inc. NY increased its position by 5.5%, now owning 270,877 shares valued at $5.07 million, and Foundry Partners LLC raised theirs by 1.0%, owning 219,055 shares worth $4.06 million. Overall, institutional investors and hedge funds control 75.99% of Kimball Electronics' shares.

Stock Performance Overview

On Thursday, the shares of NASDAQ:KE fell by $0.59, bringing the price down to $17.41. During the trading session, 199,084 shares changed hands, significantly higher than the typical volume of 117,654 shares. The stock has seen a low of $16.64 and a high of $24.45 over the past twelve months. It currently boasts a market capitalization of $429.68 million, a PE ratio of 34.14, and a beta of 1.24. Its 50-day moving average price is $18.81, while the 200-day moving average stands at $18.96. Regarding liquidity, the company has a current ratio of 2.28, a quick ratio of 1.30, and a debt-to-equity ratio of 0.37.

Kimball Electronics last reported its quarterly earnings on February 4, where it achieved earnings per share (EPS) of $0.29, surpassing the forecast of $0.24 by $0.05. The company recorded a return on equity of 5.63% and a net margin of 0.78%. Analysts anticipate that Kimball Electronics will have an EPS of 1.06 for the current fiscal year.

About Kimball Electronics

Kimball Electronics, Inc. specializes in providing electronics manufacturing, engineering, and supply chain support services for clients in automotive, medical, and industrial markets. The company also offers contract manufacturing services, including engineering and supply chain support for the creation of electronic assemblies and other products such as non-electronic components, medical devices, and precision molded plastics. In addition, they provide automation, test, and inspection equipment primarily used across automotive, medical, and industrial fields.

Kimball, Electronics, Investment