Pinnacle Holdings LLC Invests $1.70 Million in Kimball Electronics, Inc. $KE

Key Points

• Pinnacle Holdings LLC acquired 66,552 Kimball Electronics shares worth approximately $1.70 million, representing 0.28% of the company.
• Institutional investors own 75.99% of Kimball Electronics, with several funds—including AQR Capital Management and Empowered Funds—recently increasing their positions.
• Analysts give the stock a “Moderate Buy” consensus with an average $32 price target, although Kimball Electronics recently reported a quarterly loss of $0.01 per share, missing the $0.39 consensus estimate.

Pinnacle Holdings LLC bought a new position in Kimball Electronics, Inc. (NASDAQ:KE - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 66,552 shares of the electronics maker's stock, valued at approximately $1,704,000. Pinnacle Holdings LLC owned 0.28% of Kimball Electronics as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of KE. Royal Bank of Canada grew its holdings in Kimball Electronics by 5.8% during the first 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. AQR Capital Management LLC raised its stake in shares of Kimball Electronics by 24.0% in the first quarter. AQR Capital Management LLC now owns 259,734 shares of the electronics maker's stock worth $4,273,000 after buying an additional 50,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Kimball Electronics by 4.4% during 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 buying an additional 624 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Kimball Electronics by 8.3% during the 1st quarter. Empowered Funds LLC now owns 88,650 shares of the electronics maker's stock valued at $1,458,000 after buying an additional 6,803 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Kimball Electronics during the 1st quarter valued at approximately $411,000. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KE shares. Zacks Research raised shares of Kimball Electronics from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Wall Street Zen downgraded shares of Kimball Electronics from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. KeyCorp assumed coverage on shares of Kimball Electronics in a research report on Thursday, July 2nd. They issued a "sector weight" rating for the company. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Kimball Electronics in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $32.00.

Kimball Electronics Price Performance

NASDAQ:KE opened at $23.11 on Monday. The business's 50-day simple moving average is $25.06 and its two-hundred day simple moving average is $25.15. Kimball Electronics, Inc. has a 52 week low of $21.01 and a 52 week high of $33.19. The stock has a market cap of $553.95 million, a PE ratio of 20.45, a P/E/G ratio of 1.03 and a beta of 1.23. The company has a quick ratio of 1.27, a current ratio of 2.09 and a debt-to-equity ratio of 0.18.

Kimball Electronics (NASDAQ:KE - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The electronics maker reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.40). The business had revenue of $371.57 million during the quarter, compared to the consensus estimate of $373.63 million. Kimball Electronics had a return on equity of 4.41% and a net margin of 1.95%. As a group, analysts forecast that Kimball Electronics, Inc. will post 1.13 EPS for the current fiscal year.

Kimball Electronics Company Profile

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company's core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.

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