ValuEngine Downgrades Kimball Electronics, Inc. (KE) to Hold

Kimball Electronics, Inc. (NASDAQ:KE) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Monday.

Separately, BidaskClub downgraded shares of Kimball Electronics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $17.00.

Shares of Kimball Electronics (NASDAQ KE) opened at 21.60 on Monday. Kimball Electronics has a 52 week low of $13.38 and a 52 week high of $22.27. The firm has a market capitalization of $579.18 million, a price-to-earnings ratio of 17.42 and a beta of 1.02. The stock has a 50 day moving average price of $19.81 and a 200-day moving average price of $18.18.

Kimball Electronics (NASDAQ:KE) last issued its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. The company had revenue of $241.27 million during the quarter. Kimball Electronics had a net margin of 3.67% and a return on equity of 9.24%. On average, equities research analysts forecast that Kimball Electronics will post $0.93 earnings per share for the current year.

Kimball Electronics declared that its Board of Directors has approved a share buyback plan on Thursday, August 24th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the electronics maker to purchase up to 42% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of Kimball Electronics by 18.8% in the fourth quarter. Teachers Advisors LLC now owns 53,382 shares of the electronics maker’s stock valued at $972,000 after buying an additional 8,457 shares during the period. AJO LP bought a new position in Kimball Electronics in the 2nd quarter valued at approximately $3,879,000. US Bancorp DE raised its holdings in Kimball Electronics by 0.5% in the 1st quarter. US Bancorp DE now owns 36,217 shares of the electronics maker’s stock valued at $614,000 after buying an additional 169 shares during the last quarter. ClariVest Asset Management LLC raised its holdings in Kimball Electronics by 46.1% in the 1st quarter. ClariVest Asset Management LLC now owns 87,654 shares of the electronics maker’s stock valued at $1,486,000 after buying an additional 27,642 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Kimball Electronics by 44.0% during the 1st quarter. Renaissance Technologies LLC now owns 350,575 shares of the electronics maker’s stock worth $5,942,000 after buying an additional 107,200 shares during the period. 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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