Envestnet Asset Management Inc. Cuts Stock Holdings in Kimball Electronics, Inc. (NASDAQ:KE)

Envestnet Asset Management Inc. decreased its holdings in shares of Kimball Electronics, Inc. (NASDAQ:KE) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 257,501 shares of the electronics maker’s stock after selling 4,898 shares during the quarter. Envestnet Asset Management Inc. owned 1.04% of Kimball Electronics worth $5,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in Kimball Electronics by 1,526.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,456 shares of the electronics maker’s stock worth $230,000 after buying an additional 9,813 shares in the last quarter. EntryPoint Capital LLC boosted its stake in shares of Kimball Electronics by 96.2% during the first quarter. EntryPoint Capital LLC now owns 10,745 shares of the electronics maker’s stock valued at $233,000 after purchasing an additional 5,269 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Kimball Electronics during the first quarter valued at approximately $364,000. Quadrature Capital Ltd boosted its stake in shares of Kimball Electronics by 40.9% during the fourth quarter. Quadrature Capital Ltd now owns 13,948 shares of the electronics maker’s stock valued at $376,000 after purchasing an additional 4,048 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Kimball Electronics during the first quarter valued at approximately $402,000. Hedge funds and other institutional investors own 75.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Lake Street Capital decreased their target price on Kimball Electronics from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Sidoti downgraded Kimball Electronics from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a report on Thursday, August 15th. EF Hutton Acquisition Co. I downgraded Kimball Electronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th. B. Riley decreased their target price on Kimball Electronics from $30.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Cantor Fitzgerald decreased their target price on Kimball Electronics from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.25.

Kimball Electronics Trading Up 0.8 %

Kimball Electronics stock opened at $18.51 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.26 and a quick ratio of 1.36. Kimball Electronics, Inc. has a one year low of $17.09 and a one year high of $28.33. The stock has a market capitalization of $460.33 million, a PE ratio of 14.46 and a beta of 1.26. The business’s fifty day moving average is $19.28 and its 200 day moving average is $20.90.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings data on Tuesday, August 13th. The electronics maker reported $0.33 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.08). The company had revenue of $430.16 million during the quarter, compared to the consensus estimate of $429.00 million. Kimball Electronics had a return on equity of 6.65% and a net margin of 1.20%. During the same period last year, the business earned $0.76 EPS. On average, sell-side analysts predict that Kimball Electronics, Inc. will post 1.17 EPS for the current year.

Kimball Electronics Profile

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, industrial, and public safety end markets. It provides electronics manufacturing services, including engineering and supply chain support, to customers in the automotive, medical, and industrial end market verticals.