Kimball Electronics Inc. (NASDAQ:KE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday. The brokerage presently has a $17.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential downside of 4.76% from the company’s previous close.
According to Zacks, “Kimball Electronics Inc. operates as a contract manufacturer of durable goods electronics. The Company specializes in durable electronics for the medical, automotive, 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 variety of industries. The Company has manufacturing operations primarily in the United States, Mexico, Thailand, Poland, and China. Kimball Electronics Inc. is headquartered in Jasper, Indiana. “
Several other research analysts also recently commented on the company. B. Riley reaffirmed a “buy” rating and issued a $17.00 price target on shares of Kimball Electronics in a research report on Sunday, November 6th. TheStreet raised Kimball Electronics from a “hold” rating to a “buy” rating in a research report on Monday, October 31st.
Kimball Electronics (NASDAQ:KE) traded up 1.13% during midday trading on Wednesday, reaching $17.85. The company’s stock had a trading volume of 37,406 shares. The firm has a 50 day moving average price of $14.77 and a 200 day moving average price of $12.81. The firm has a market capitalization of $490.57 million, a PE ratio of 18.48 and a beta of 0.90. Kimball Electronics has a 1-year low of $9.15 and a 1-year high of $17.90.
A number of hedge funds have recently made changes to their positions in KE. Alliancebernstein L.P. boosted its stake in shares of Kimball Electronics by 10.9% in the second quarter. Alliancebernstein L.P. now owns 12,184 shares of the company’s stock worth $152,000 after buying an additional 1,200 shares during the period. KCG Holdings Inc. bought a new stake in shares of Kimball Electronics during the third quarter worth $152,000. BlackRock Group LTD boosted its stake in shares of Kimball Electronics by 83.7% in the second quarter. BlackRock Group LTD now owns 13,071 shares of the company’s stock worth $162,000 after buying an additional 5,957 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Kimball Electronics by 21.6% in the second quarter. Parametric Portfolio Associates LLC now owns 13,103 shares of the company’s stock worth $163,000 after buying an additional 2,331 shares during the period. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Kimball Electronics during the second quarter worth $165,000. Hedge funds and other institutional investors own 55.15% of the company’s stock.
Kimball Electronics Company Profile
Kimball Electronics, Inc (Kimball Electronics) is engaged in providing engineering, manufacturing and supply chain services. The Company offers its services to customers in the automotive, medical, industrial and public safety end markets. The Company offers engineering, manufacturing and supply chain services, such as design services; rapid prototyping and new product introduction support; production and testing of printed circuit board assemblies (PCBAS); industrialization and automation of manufacturing processes; product design and process validation and qualification; reliability testing, which include testing of products under a series of different environmental conditions; assembly, production and packaging of other related non-electronic products; supply chain services, and product life cycle management.