Wedge Capital Management L L P NC Invests $1.80 Million in Kimball Electronics, Inc. $KE

Key Points

• Wedge Capital Management invested approximately $1.80 million in Kimball Electronics by acquiring 93,407 shares, increasing its stake to 0.38% of the company.
• Several other institutional investors significantly increased their positions in Kimball Electronics, with GAMMA Investing LLC raising its stake by 3,256%.
• Kimball Electronics received upgrades from analysts, with Zacks Research and Wall Street Zen changing their ratings to "strong-buy", while the company's stock has an average price target of $28.00.

Wedge Capital Management L L P NC acquired a new position in Kimball Electronics, Inc. (NASDAQ:KE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 93,407 shares of the electronics maker's stock, valued at approximately $1,796,000. Wedge Capital Management L L P NC owned 0.38% of Kimball Electronics as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Two Sigma Investments LP raised its stake in shares of 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 buying an additional 23,168 shares during the period. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 4,070 shares during the period. Avantax Advisory Services Inc. grew its position in shares of Kimball Electronics by 81.8% during the first quarter. Avantax Advisory Services Inc. now owns 63,392 shares of the electronics maker's stock worth $1,043,000 after purchasing an additional 28,521 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Kimball Electronics by 45.4% during 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. Finally, Peapod Lane Capital LLC purchased a new stake in shares of Kimball Electronics during the first quarter worth about $519,000. Institutional investors own 75.99% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Zacks Research upgraded Kimball Electronics from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Wall Street Zen upgraded Kimball Electronics from a "buy" rating to a "strong-buy" rating in a research report on Monday, September 1st. B. Riley reiterated a "buy" rating on shares of Kimball Electronics in a research report on Thursday, August 14th. Finally, Lake Street Capital increased their target price on Kimball Electronics from $21.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat, Kimball Electronics currently has a consensus rating of "Buy" and an average price target of $28.00.

Kimball Electronics Stock Performance

NASDAQ KE opened at $31.93 on Tuesday. The stock has a market capitalization of $778.45 million, a PE ratio of 47.66 and a beta of 1.28. The business has a 50 day simple moving average of $24.92 and a two-hundred day simple moving average of $19.79. 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 1-year low of $12.41 and a 1-year high of $33.19.

Kimball Electronics (NASDAQ:KE - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The electronics maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.14. The business had revenue of $380.47 million during the quarter, compared to analysts' expectations of $333.19 million. Kimball Electronics had a return on equity of 5.11% and a net margin of 1.14%. Kimball Electronics has set its FY 2025 guidance at EPS. On average, research analysts predict that Kimball Electronics, Inc. will post 0.89 EPS for the current fiscal year.

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.

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