Kimball Electronics, Inc. (NASDAQ:KE) Shares Acquired by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its stake in Kimball Electronics, Inc. by 81.8%, owning approximately 63,392 shares valued at $1.04 million after acquiring an additional 28,521 shares in Q1.
• The company reported a quarterly earnings per share of $0.27, exceeding the consensus estimate of $0.26, alongside revenue of $374.61 million, surpassing expectations by $36 million.
• Wall Street Zen upgraded Kimball Electronics from a "hold" to a "buy" rating, with a consensus rating of "Moderate Buy" and an average target price of $22.75.

Avantax Advisory Services Inc. raised its stake in shares of Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 81.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,392 shares of the electronics maker's stock after purchasing an additional 28,521 shares during the period. Avantax Advisory Services Inc. owned 0.26% of Kimball Electronics worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Two Sigma Investments LP grew its stake in Kimball Electronics by 37.2% in the fourth quarter. Two Sigma Investments LP now owns 85,364 shares of the electronics maker's stock worth $1,599,000 after purchasing an additional 23,168 shares in the last quarter. GAMMA Investing LLC grew its stake in Kimball Electronics by 3,256.0% in the first quarter. GAMMA Investing LLC now owns 4,195 shares of the electronics maker's stock worth $69,000 after purchasing an additional 4,070 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Kimball Electronics by 45.4% in the first quarter. Envestnet Asset Management Inc. now owns 339,230 shares of the electronics maker's stock worth $5,580,000 after purchasing an additional 105,889 shares in the last quarter. Peapod Lane Capital LLC bought a new position in Kimball Electronics in the first quarter worth approximately $519,000. Finally, Two Sigma Advisers LP grew its stake in Kimball Electronics by 116.8% in the fourth quarter. Two Sigma Advisers LP now owns 78,700 shares of the electronics maker's stock worth $1,474,000 after purchasing an additional 42,400 shares in the last quarter. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

Kimball Electronics Stock Up 0.7%

Shares of KE stock traded up $0.13 on Wednesday, reaching $19.01. 30,048 shares of the stock were exchanged, compared to its average volume of 146,198. The company has a current ratio of 2.14, a quick ratio of 1.24 and a debt-to-equity ratio of 0.27. The business's 50 day moving average price is $19.14 and its 200 day moving average price is $17.44. The company has a market capitalization of $463.34 million, a price-to-earnings ratio of 26.68 and a beta of 1.22. Kimball Electronics, Inc. has a twelve month low of $12.41 and a twelve month high of $21.52.

Kimball Electronics (NASDAQ:KE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The electronics maker reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. Kimball Electronics had a net margin of 1.17% and a return on equity of 5.17%. The business had revenue of $374.61 million during the quarter, compared to analysts' expectations of $338.08 million. As a group, sell-side analysts expect that Kimball Electronics, Inc. will post 0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Kimball Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.75.

Kimball Electronics Company Profile

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.