Kimball Electronics (NASDAQ:KE) Stock Passes Below 50 Day Moving Average – Time to Sell?

Shares of Kimball Electronics, Inc. (NASDAQ:KE) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $25.24 and traded as low as $24.68. Kimball Electronics shares last traded at $24.74, with a volume of 125,599 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KE. Weiss Ratings raised shares of Kimball Electronics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Kimball Electronics from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Zacks Research raised shares of Kimball Electronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Finally, KeyCorp started coverage on shares of Kimball Electronics in a research report on Thursday, July 2nd. They set a “sector weight” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Kimball Electronics Price Performance

The firm has a 50-day moving average of $25.21 and a 200-day moving average of $25.99. The stock has a market cap of $576.48 million, a PE ratio of 23.05, a PEG ratio of 1.10 and a beta of 1.22. 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 posted its quarterly earnings results on Tuesday, May 5th. The electronics maker reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Kimball Electronics had a return on equity of 6.22% and a net margin of 1.81%.The business had revenue of $352.92 million during the quarter, compared to analysts’ expectations of $356.27 million. Research analysts predict that Kimball Electronics, Inc. will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Kimball Electronics

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in Kimball Electronics by 5.8% in the 1st quarter. Royal Bank of Canada now owns 29,199 shares of the electronics maker’s stock valued at $480,000 after acquiring an additional 1,588 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Kimball Electronics by 24.0% during the 1st quarter. AQR Capital Management LLC now owns 259,734 shares of the electronics maker’s stock valued at $4,273,000 after purchasing an additional 50,245 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Kimball Electronics by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,687 shares of the electronics maker’s stock valued at $242,000 after purchasing an additional 624 shares in the last quarter. Empowered Funds LLC grew its position in shares of Kimball Electronics by 8.3% during the first quarter. Empowered Funds LLC now owns 88,650 shares of the electronics maker’s stock valued at $1,458,000 after purchasing an additional 6,803 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Kimball Electronics in the first quarter worth about $411,000. 75.99% of the stock is owned by hedge funds and other 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.