Kimball Electronics (NASDAQ:KE) Reaches New 12-Month High After Strong Earnings

Kimball Electronics, Inc. (NASDAQ:KE)’s stock price hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $22.10 and last traded at $23.68, with a volume of 5289 shares changing hands. The stock had previously closed at $20.97.

The electronics maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. Kimball Electronics had a net margin of 1.14% and a return on equity of 5.17%. The business had revenue of $380.47 million for the quarter, compared to analysts’ expectations of $333.19 million.

Analyst Upgrades and Downgrades

KE has been the topic of a number of recent analyst reports. B. Riley restated a “buy” rating on shares of Kimball Electronics in a research report on Thursday. Wall Street Zen raised shares of Kimball Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Kimball Electronics currently has a consensus rating of “Moderate Buy” and an average price target of $22.75.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Kimball Electronics by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,063 shares of the electronics maker’s stock worth $263,000 after acquiring an additional 608 shares in the last quarter. AlphaQuest LLC increased its position in shares of Kimball Electronics by 9.1% in the second quarter. AlphaQuest LLC now owns 8,119 shares of the electronics maker’s stock worth $156,000 after acquiring an additional 678 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Kimball Electronics by 2.2% in the first quarter. SummerHaven Investment Management LLC now owns 36,888 shares of the electronics maker’s stock worth $607,000 after acquiring an additional 791 shares in the last quarter. Morgan Dempsey Capital Management LLC increased its position in shares of Kimball Electronics by 12.1% in the second quarter. Morgan Dempsey Capital Management LLC now owns 7,494 shares of the electronics maker’s stock worth $144,000 after acquiring an additional 806 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Kimball Electronics by 1.6% in the second quarter. US Bancorp DE now owns 65,583 shares of the electronics maker’s stock worth $1,261,000 after acquiring an additional 1,022 shares in the last quarter. 75.99% of the stock is owned by hedge funds and other institutional investors.

Kimball Electronics Price Performance

The stock has a market capitalization of $602.43 million, a PE ratio of 36.88 and a beta of 1.22. The company has a quick ratio of 1.24, a current ratio of 2.14 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average is $19.46 and its 200 day moving average is $17.53.

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.