Front Street Capital Management Inc. Sells 4,073 Shares of Kimball Electronics, Inc. (NASDAQ:KE)

Front Street Capital Management Inc. cut its stake in shares of Kimball Electronics, Inc. (NASDAQ:KE) by 3.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,072 shares of the electronics maker’s stock after selling 4,073 shares during the quarter. Front Street Capital Management Inc. owned about 0.41% of Kimball Electronics worth $2,222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hsbc Holdings PLC bought a new stake in Kimball Electronics during the 2nd quarter valued at approximately $210,000. Allspring Global Investments Holdings LLC grew its position in Kimball Electronics by 1,526.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,456 shares of the electronics maker’s stock valued at $230,000 after acquiring an additional 9,813 shares during the last quarter. EntryPoint Capital LLC grew its position in Kimball Electronics by 96.2% in the 1st quarter. EntryPoint Capital LLC now owns 10,745 shares of the electronics maker’s stock valued at $233,000 after acquiring an additional 5,269 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in Kimball Electronics by 16.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 9,644 shares of the electronics maker’s stock valued at $260,000 after acquiring an additional 1,344 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Kimball Electronics in the 2nd quarter valued at $325,000. 75.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KE shares. EF Hutton Acquisition Co. I downgraded Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald decreased their target price on Kimball Electronics from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Lake Street Capital lowered their price target on shares of Kimball Electronics from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Sidoti lowered shares of Kimball Electronics from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Thursday, August 15th. Finally, B. Riley lowered their price target on shares of Kimball Electronics from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.25.

Kimball Electronics Stock Performance

Shares of KE stock opened at $17.83 on Tuesday. The stock has a market capitalization of $443.41 million, a PE ratio of 13.93 and a beta of 1.26. The firm has a 50 day moving average of $19.84 and a two-hundred day moving average of $21.02. Kimball Electronics, Inc. has a 52 week low of $17.09 and a 52 week high of $28.33. The company has a quick ratio of 1.36, a current ratio of 2.26 and a debt-to-equity ratio of 0.43.

Kimball Electronics (NASDAQ:KE) last released its earnings results on Tuesday, August 13th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.08). Kimball Electronics had a return on equity of 6.65% and a net margin of 1.20%. The business had revenue of $430.16 million for the quarter, compared to analyst estimates of $429.00 million. During the same quarter in the previous year, the firm posted $0.76 EPS. On average, research analysts predict that Kimball Electronics, Inc. will post 1.17 EPS for the current fiscal year.

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, industrial, and public safety end markets. It provides electronics manufacturing services, including engineering and supply chain support, to customers in the automotive, medical, and industrial end market verticals.