Hsbc Holdings PLC Makes New $210,000 Investment in Kimball Electronics, Inc. (NASDAQ:KE)

Hsbc Holdings PLC purchased a new stake in shares of Kimball Electronics, Inc. (NASDAQ:KE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,532 shares of the electronics maker’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds also recently made changes to their positions in KE. Allspring Global Investments Holdings LLC grew its stake in shares of Kimball Electronics by 1,526.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,456 shares of the electronics maker’s stock worth $230,000 after acquiring an additional 9,813 shares during the period. 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 worth $233,000 after purchasing an additional 5,269 shares during the period. Renaissance Technologies LLC purchased a new stake in Kimball Electronics during the 2nd quarter valued at $325,000. Principal Financial Group Inc. purchased a new stake in Kimball Electronics during the 1st quarter valued at $364,000. Finally, Quadrature Capital Ltd lifted its holdings in shares of Kimball Electronics by 40.9% during the 4th quarter. Quadrature Capital Ltd now owns 13,948 shares of the electronics maker’s stock valued at $376,000 after buying an additional 4,048 shares during the period. Institutional investors own 75.99% of the company’s stock.

Kimball Electronics Stock Performance

KE opened at $17.51 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.36 and a current ratio of 2.26. The stock has a market capitalization of $435.46 million, a price-to-earnings ratio of 13.68 and a beta of 1.26. The company has a fifty day moving average of $18.79 and a 200 day moving average of $20.83. Kimball Electronics, Inc. has a fifty-two week low of $17.09 and a fifty-two week high of $28.33.

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

Wall Street Analyst Weigh In

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

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.