Hodges Capital Management Inc. Sells 30,709 Shares of Kimball Electronics, Inc. (NASDAQ:KE)

Hodges Capital Management Inc. trimmed its position in shares of Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 5.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 546,051 shares of the electronics maker's stock after selling 30,709 shares during the period. Hodges Capital Management Inc. owned approximately 2.20% of Kimball Electronics worth $12,002,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its stake in Kimball Electronics by 1,526.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,456 shares of the electronics maker's stock valued at $230,000 after purchasing an additional 9,813 shares during the last quarter. EntryPoint Capital LLC raised its position 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 buying an additional 5,269 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in shares of Kimball Electronics by 16.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 9,644 shares of the electronics maker's stock valued at $260,000 after buying an additional 1,344 shares during the period. Quest Partners LLC bought a new stake in shares of Kimball Electronics in the fourth quarter valued at about $303,000. Finally, Principal Financial Group Inc. acquired a new stake in Kimball Electronics during the first quarter worth about $364,000. 75.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Kimball Electronics Price Performance

Shares of NASDAQ KE traded up $0.22 during midday trading on Wednesday, reaching $18.00. 97,680 shares of the company traded hands, compared to its average volume of 115,282. Kimball Electronics, Inc. has a 12 month low of $17.29 and a 12 month high of $31.43. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.12 and a current ratio of 2.26. The stock's 50-day simple moving average is $20.92 and its 200-day simple moving average is $21.43. The firm has a market cap of $447.64 million, a PE ratio of 14.07 and a beta of 1.30.

Kimball Electronics (NASDAQ:KE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.08). Kimball Electronics had a net margin of 1.20% and a return on equity of 6.65%. The firm had revenue of $430.16 million for the quarter, compared to the consensus estimate of $429.00 million. During the same period in the prior year, the business earned $0.76 earnings per share. As a group, equities analysts anticipate that Kimball Electronics, Inc. will post 1.17 earnings per share 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, 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.