Kimball Electronics (NASDAQ:KE) Receives Buy Rating from Lake Street Capital

Key Points

• Lake Street Capital has raised its price target for Kimball Electronics from $21.00 to $28.00, which suggests a potential upside of 10.24% from the current stock price.
• Kimball Electronics reported earnings per share (EPS) of $0.34 for the last quarter, surpassing the consensus estimate of $0.20 by $0.14, along with strong revenues of $380.47 million.
• Approximately 75.99% of Kimball Electronics' stock is owned by institutional investors, which indicates strong institutional support for the company.

Kimball Electronics (NASDAQ:KE - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Lake Street Capital in a report issued on Friday, Marketbeat.com reports. They currently have a $28.00 price target on the electronics maker's stock, up from their previous price target of $21.00. Lake Street Capital's target price suggests a potential upside of 7.84% from the stock's previous close.

KE has been the topic of a number of other research reports. B. Riley reaffirmed a "buy" rating on shares of Kimball Electronics in a research report on Thursday. Wall Street Zen raised Kimball Electronics from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.50.

Kimball Electronics Stock Performance

Kimball Electronics stock traded up $1.26 during trading hours on Friday, reaching $25.97. 253,989 shares of the company were exchanged, compared to its average volume of 149,584. The firm has a market cap of $633.03 million, a price-to-earnings ratio of 38.75 and a beta of 1.22. 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 stock has a 50-day moving average of $19.46 and a 200 day moving average of $17.53. Kimball Electronics has a 12 month low of $12.41 and a 12 month high of $25.95.

Kimball Electronics (NASDAQ:KE - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The electronics maker reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.14. Kimball Electronics had a return on equity of 5.17% and a net margin of 1.14%. The firm had revenue of $380.47 million during the quarter, compared to analyst estimates of $333.19 million. As a group, research analysts anticipate that Kimball Electronics will post 0.89 earnings per share for the current year.

Institutional Trading of Kimball Electronics

A number of large investors have recently bought and sold shares of the company. Man Group plc purchased a new position in Kimball Electronics during the second quarter worth about $494,000. Lazard Asset Management LLC grew its position in Kimball Electronics by 0.9% during the second quarter. Lazard Asset Management LLC now owns 63,912 shares of the electronics maker's stock worth $1,229,000 after buying an additional 561 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Kimball Electronics by 5.2% during the second quarter. Bridgeway Capital Management LLC now owns 174,397 shares of the electronics maker's stock worth $3,354,000 after buying an additional 8,547 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of Kimball Electronics in the 2nd quarter worth about $449,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Kimball Electronics by 31.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 72,600 shares of the electronics maker's stock worth $1,396,000 after purchasing an additional 17,330 shares in the last quarter. 75.99% of the stock is owned by hedge funds and other institutional investors.

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.