Front Street Capital Management Inc. Sells 28,823 Shares of Kimball Electronics, Inc. $KE

Key Points

• Front Street Capital Management Inc. reduced its stake in Kimball Electronics by 40.3%, selling 28,823 shares and holding a total of 42,714 shares valued at approximately $703,000.
• Several hedge funds including AQR Capital Management LLC and Bridgeway Capital Management LLC have increased their positions in Kimball Electronics, indicating strong institutional interest with 75.99% of shares owned by institutional investors.
• Wall Street analysts have a positive outlook on Kimball Electronics, with a majority upgrading their ratings to "strong-buy" and adjusting the price target to $28.00.

Front Street Capital Management Inc. lessened its position in Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 40.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,714 shares of the electronics maker's stock after selling 28,823 shares during the quarter. Front Street Capital Management Inc. owned approximately 0.18% of Kimball Electronics worth $703,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Kimball Electronics by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,687 shares of the electronics maker's stock valued at $242,000 after purchasing an additional 624 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Kimball Electronics by 4.3% in the 1st quarter. Bridgeway Capital Management LLC now owns 165,850 shares of the electronics maker's stock valued at $2,728,000 after purchasing an additional 6,803 shares during the period. AQR Capital Management LLC lifted its stake in shares of Kimball Electronics by 24.0% in the 1st quarter. AQR Capital Management LLC now owns 259,734 shares of the electronics maker's stock valued at $4,273,000 after purchasing an additional 50,245 shares during the period. Royal Bank of Canada lifted its stake in shares of Kimball Electronics by 5.8% in the 1st quarter. Royal Bank of Canada now owns 29,199 shares of the electronics maker's stock valued at $480,000 after purchasing an additional 1,588 shares during the period. Finally, Earnest Partners LLC lifted its stake in shares of Kimball Electronics by 10.3% in the 1st quarter. Earnest Partners LLC now owns 691,417 shares of the electronics maker's stock valued at $11,374,000 after purchasing an additional 64,307 shares during the period. Hedge funds and other institutional investors own 75.99% of the company's stock.

Kimball Electronics Stock Performance

Shares of KE traded down $0.11 during trading hours on Friday, hitting $30.51. The stock had a trading volume of 71,386 shares, compared to its average volume of 167,800. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.20 and a quick ratio of 1.34. Kimball Electronics, Inc. has a 12 month low of $12.41 and a 12 month high of $30.85. The firm has a market capitalization of $743.83 million, a PE ratio of 45.54 and a beta of 1.28. The stock has a fifty day moving average price of $23.30 and a 200 day moving average price of $19.06.

Kimball Electronics (NASDAQ:KE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The electronics maker reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. Kimball Electronics had a return on equity of 5.11% and a net margin of 1.14%.The company had revenue of $380.47 million during the quarter, compared to analyst estimates of $333.19 million. Kimball Electronics has set its FY 2025 guidance at EPS. Analysts anticipate that Kimball Electronics, Inc. will post 0.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KE shares. B. Riley restated a "buy" rating on shares of Kimball Electronics in a research note on Thursday, August 14th. Lake Street Capital lifted their price objective on Kimball Electronics from $21.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Wall Street Zen upgraded Kimball Electronics from a "buy" rating to a "strong-buy" rating in a research note on Monday, September 1st. Finally, Zacks Research upgraded Kimball Electronics from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $28.00.

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.