Wedge Capital Management L L P NC Boosts Stake in Kimball Electronics, Inc. $KE

Wedge Capital Management L L P NC raised its position in shares of Kimball Electronics, Inc. (NASDAQ:KE) by 37.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 133,860 shares of the electronics maker’s stock after purchasing an additional 36,621 shares during the period. Wedge Capital Management L L P NC owned 0.56% of Kimball Electronics worth $3,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Kimball Electronics by 5.8% during the 1st quarter. Royal Bank of Canada now owns 29,199 shares of the electronics maker’s stock valued at $480,000 after buying an additional 1,588 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Kimball Electronics by 24.0% during the 1st quarter. AQR Capital Management LLC now owns 259,734 shares of the electronics maker’s stock worth $4,273,000 after acquiring an additional 50,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kimball Electronics by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,687 shares of the electronics maker’s stock worth $242,000 after acquiring an additional 624 shares during the period. Empowered Funds LLC increased its holdings in Kimball Electronics by 8.3% in the 1st quarter. Empowered Funds LLC now owns 88,650 shares of the electronics maker’s stock worth $1,458,000 after acquiring an additional 6,803 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Kimball Electronics in the 1st quarter worth about $411,000. 75.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KE shares. Zacks Research upgraded shares of Kimball Electronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Kimball Electronics in a report on Tuesday, August 4th. KeyCorp initiated coverage on Kimball Electronics in a report on Thursday, July 2nd. They issued a “sector weight” rating for the company. Finally, Wall Street Zen lowered Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Kimball Electronics presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Kimball Electronics Stock Up 3.3%

Shares of NASDAQ:KE opened at $26.03 on Friday. The firm has a market capitalization of $626.02 million, a PE ratio of 23.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.23. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.29 and a current ratio of 2.11. Kimball Electronics, Inc. has a 52-week low of $21.01 and a 52-week high of $33.19. The firm has a fifty day moving average of $25.13 and a 200 day moving average of $25.38.

Kimball Electronics (NASDAQ:KE) last issued its quarterly earnings results on Wednesday, August 12th. The electronics maker reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). The firm had revenue of $371.57 million for the quarter, compared to the consensus estimate of $373.36 million. Kimball Electronics had a return on equity of 4.42% and a net margin of 1.95%. As a group, research analysts anticipate that Kimball Electronics, Inc. will post 1.13 EPS for the current fiscal year.

About Kimball Electronics

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company’s core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.