Connor Clark & Lunn Investment Management Ltd. Acquires 13,333 Shares of Kimball Electronics, Inc. (NASDAQ:KE)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Kimball Electronics, Inc. (NASDAQ:KE) by 40.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,087 shares of the electronics maker’s stock after purchasing an additional 13,333 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of Kimball Electronics worth $853,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Kimball Electronics by 45.9% in the first quarter. Vanguard Group Inc. now owns 1,808,516 shares of the electronics maker’s stock worth $39,154,000 after purchasing an additional 569,015 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Kimball Electronics by 80.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 273,636 shares of the electronics maker’s stock valued at $6,015,000 after acquiring an additional 122,336 shares during the period. AQR Capital Management LLC increased its stake in Kimball Electronics by 66.1% in the 2nd quarter. AQR Capital Management LLC now owns 235,844 shares of the electronics maker’s stock worth $5,184,000 after purchasing an additional 93,831 shares during the period. Donald Smith & CO. Inc. increased its stake in Kimball Electronics by 67.0% in the 2nd quarter. Donald Smith & CO. Inc. now owns 207,604 shares of the electronics maker’s stock worth $4,563,000 after purchasing an additional 83,317 shares during the period. Finally, Grace & White Inc. NY lifted its position in Kimball Electronics by 38.5% in the third quarter. Grace & White Inc. NY now owns 256,777 shares of the electronics maker’s stock valued at $4,753,000 after purchasing an additional 71,400 shares during the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.

Kimball Electronics Price Performance

KE stock opened at $19.41 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.28 and a quick ratio of 1.30. Kimball Electronics, Inc. has a 1 year low of $16.64 and a 1 year high of $27.73. The firm has a 50-day moving average of $18.56 and a 200 day moving average of $20.16. The company has a market cap of $479.04 million, a P/E ratio of 38.06 and a beta of 1.26.

Kimball Electronics (NASDAQ:KE) last announced its earnings results on Monday, November 4th. The electronics maker reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Kimball Electronics had a return on equity of 5.63% and a net margin of 0.78%. The firm had revenue of $374.26 million during the quarter, compared to analyst estimates of $376.70 million. During the same quarter in the prior year, the company earned $0.43 EPS. On average, sell-side analysts forecast that Kimball Electronics, Inc. will post 0.96 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.