Kimball Electronics (NASDAQ:KE) Stock Price Passes Above Fifty Day Moving Average - Here's Why

Kimball Electronics, Inc. (NASDAQ:KE - Get Free Report)'s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $18.34 and traded as high as $19.53. Kimball Electronics shares last traded at $19.17, with a volume of 129,112 shares trading hands.

Analyst Ratings Changes

KE has been the subject of several research analyst reports. Lake Street Capital cut their price objective on Kimball Electronics from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. B. Riley reduced their target price on shares of Kimball Electronics from $30.00 to $29.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Sidoti lowered shares of Kimball Electronics from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a report on Thursday, August 15th. EF Hutton Acquisition Co. I downgraded Kimball Electronics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 14th. Finally, Cantor Fitzgerald cut their price target on Kimball Electronics from $28.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.25.

Kimball Electronics Price Performance

The firm has a market capitalization of $468.43 million, a P/E ratio of 37.59 and a beta of 1.26. The company has a quick ratio of 1.30, a current ratio of 2.28 and a debt-to-equity ratio of 0.37. The business's 50 day moving average is $18.34 and its 200-day moving average is $20.28.

Kimball Electronics (NASDAQ:KE - Get Free Report) last posted its earnings results on Monday, November 4th. The electronics maker reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $374.26 million for the quarter, compared to the consensus estimate of $376.70 million. Kimball Electronics had a net margin of 0.78% and a return on equity of 5.63%. During the same period last year, the company earned $0.43 EPS. As a group, sell-side analysts predict that Kimball Electronics, Inc. will post 0.96 EPS for the current fiscal year.

Institutional Trading of Kimball Electronics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its stake in Kimball Electronics by 11.0% during the third quarter. Assenagon Asset Management S.A. now owns 303,629 shares of the electronics maker's stock valued at $5,620,000 after acquiring an additional 29,993 shares in the last quarter. American Century Companies Inc. boosted its holdings in Kimball Electronics by 39.7% during the 2nd quarter. American Century Companies Inc. now owns 198,560 shares of the electronics maker's stock valued at $4,364,000 after acquiring an additional 56,468 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Kimball Electronics by 3.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,055 shares of the electronics maker's stock worth $651,000 after acquiring an additional 889 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Kimball Electronics during the second quarter valued at approximately $210,000. Finally, Bank of New York Mellon Corp raised its stake in Kimball Electronics by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 117,676 shares of the electronics maker's stock worth $2,587,000 after buying an additional 9,349 shares in the last quarter. 75.99% of the stock is owned by hedge funds and other institutional investors.

About Kimball Electronics

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.