Pacific Ridge Capital Partners LLC Decreases Stock Holdings in Kimball Electronics, Inc. (NASDAQ:KE)

Key Points

• Pacific Ridge Capital Partners LLC reduced its stake in Kimball Electronics by 3.9%, now owning 343,449 shares, worth approximately $5.65 million.
• Several hedge funds have increased their positions, with Arrowstreet Capital growing its stake by 239.9% in the last quarter, and Vanguard Group increasing its holdings by 5%.
• Wall Street analysts have upgraded Kimball Electronics from a "hold" to a "buy" rating, with an average target price of $22.75.

Pacific Ridge Capital Partners LLC lessened its holdings in shares of Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,449 shares of the electronics maker's stock after selling 13,851 shares during the period. Kimball Electronics accounts for approximately 1.5% of Pacific Ridge Capital Partners LLC's investment portfolio, making the stock its 26th biggest position. Pacific Ridge Capital Partners LLC owned about 1.40% of Kimball Electronics worth $5,650,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of KE. GAMMA Investing LLC lifted its holdings in shares of Kimball Electronics by 3,256.0% in the 1st quarter. GAMMA Investing LLC now owns 4,195 shares of the electronics maker's stock worth $69,000 after acquiring an additional 4,070 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Kimball Electronics during the 4th quarter worth approximately $82,000. Aquatic Capital Management LLC lifted its holdings in Kimball Electronics by 211.6% during the 4th quarter. Aquatic Capital Management LLC now owns 8,726 shares of the electronics maker's stock worth $163,000 after buying an additional 5,926 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Kimball Electronics during the 1st quarter worth approximately $200,000. Finally, Graham Capital Management L.P. acquired a new stake in Kimball Electronics during the 4th quarter worth approximately $201,000. Hedge funds and other institutional investors own 75.99% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Kimball Electronics from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.75.

Kimball Electronics Price Performance

Shares of NASDAQ KE traded up $0.04 during midday trading on Tuesday, hitting $18.88. The company had a trading volume of 95,646 shares, compared to its average volume of 146,867. The company has a quick ratio of 1.24, a current ratio of 2.14 and a debt-to-equity ratio of 0.27. Kimball Electronics, Inc. has a twelve month low of $12.41 and a twelve month high of $21.52. The business has a 50-day simple moving average of $19.14 and a two-hundred day simple moving average of $17.43. The firm has a market capitalization of $460.29 million, a price-to-earnings ratio of 26.59 and a beta of 1.22.

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