Kimball Electronics, Inc. (NASDAQ:KE) Stake Trimmed by Royce & Associates LP

Royce & Associates LP lessened its stake in shares of Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 74.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 211,851 shares of the electronics maker's stock after selling 633,161 shares during the quarter. Royce & Associates LP owned 0.85% of Kimball Electronics worth $3,921,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. nVerses Capital LLC acquired a new position in shares of Kimball Electronics in the third quarter worth about $48,000. SG Americas Securities LLC increased its holdings in Kimball Electronics by 78.5% during the 3rd quarter. SG Americas Securities LLC now owns 8,755 shares of the electronics maker's stock worth $162,000 after purchasing an additional 3,849 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Kimball Electronics in the 2nd quarter valued at approximately $210,000. The Manufacturers Life Insurance Company purchased a new position in shares of Kimball Electronics during the 2nd quarter valued at approximately $217,000. Finally, Creative Planning acquired a new stake in shares of Kimball Electronics during the third quarter worth approximately $219,000. Hedge funds and other institutional investors own 75.99% of the company's stock.

Kimball Electronics Stock Performance

Shares of NASDAQ:KE traded down $0.15 during trading on Tuesday, hitting $19.02. 63,129 shares of the company traded hands, compared to its average volume of 115,997. The company has a quick ratio of 1.30, a current ratio of 2.28 and a debt-to-equity ratio of 0.37. The business's fifty day moving average is $18.36 and its 200-day moving average is $20.26. The stock has a market capitalization of $469.41 million, a price-to-earnings ratio of 37.29 and a beta of 1.26. Kimball Electronics, Inc. has a one year low of $16.64 and a one year high of $27.73.

Kimball Electronics (NASDAQ:KE - Get Free Report) last issued its earnings results on Monday, November 4th. The electronics maker reported $0.22 earnings per share 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 for the quarter, compared to analyst estimates of $376.70 million. During the same period last year, the company earned $0.43 earnings per share. As a group, equities analysts predict that Kimball Electronics, Inc. will post 0.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

KE has been the topic of a number of research analyst reports. Lake Street Capital reduced their price objective 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. B. Riley decreased their price target on Kimball Electronics from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. EF Hutton Acquisition Co. I lowered Kimball Electronics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 14th. Sidoti downgraded Kimball Electronics from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a report on Thursday, August 15th. Finally, Cantor Fitzgerald dropped their price target on Kimball Electronics from $28.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, August 16th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $23.25.

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.