Lake Street Capital Has Lowered Expectations for Kimball Electronics (NASDAQ:KE) Stock Price

Kimball Electronics (NASDAQ:KE) had its target price dropped by research analysts at Lake Street Capital from $23.00 to $21.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the electronics maker’s stock. Lake Street Capital’s price target would suggest a potential upside of 20.62% from the company’s previous close.

Kimball Electronics Trading Down 3.3 %

Kimball Electronics stock traded down $0.59 during mid-day trading on Thursday, hitting $17.41. 199,084 shares of the company’s stock were exchanged, compared to its average volume of 117,654. The firm has a market capitalization of $429.68 million, a P/E ratio of 34.14 and a beta of 1.24. Kimball Electronics has a fifty-two week low of $16.64 and a fifty-two week high of $24.45. 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 company’s 50 day simple moving average is $18.81 and its 200-day simple moving average is $18.96.

Kimball Electronics (NASDAQ:KE) last released its quarterly earnings results on Tuesday, February 4th. The electronics maker reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. Kimball Electronics had a return on equity of 5.63% and a net margin of 0.78%. On average, equities analysts anticipate that Kimball Electronics will post 1.06 earnings per share for the current year.

Hedge Funds Weigh In On Kimball Electronics

Several hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its position in Kimball Electronics by 96.4% during the third quarter. Barclays PLC now owns 65,749 shares of the electronics maker’s stock worth $1,218,000 after acquiring an additional 32,271 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in Kimball Electronics by 289.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 35,533 shares of the electronics maker’s stock worth $658,000 after acquiring an additional 26,402 shares during the last quarter. Assenagon Asset Management S.A. lifted its position 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 worth $5,620,000 after acquiring an additional 29,993 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Kimball Electronics by 0.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 95,526 shares of the electronics maker’s stock worth $1,768,000 after acquiring an additional 556 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Kimball Electronics by 271.3% during the third quarter. BNP Paribas Financial Markets now owns 27,898 shares of the electronics maker’s stock worth $516,000 after acquiring an additional 20,385 shares during the last quarter. Institutional investors own 75.99% of the company’s stock.

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.