Lake Street Capital Cuts Kimball Electronics (NASDAQ:KE) Price Target to $21.00

Kimball Electronics (NASDAQ:KE) had its price objective decreased by Lake Street Capital from $23.00 to $21.00 in a research note published on Thursday morning,Benzinga reports. Lake Street Capital currently has a buy rating on the electronics maker’s stock.

Kimball Electronics Stock Down 3.3 %

Shares of Kimball Electronics stock opened at $17.41 on Thursday. Kimball Electronics has a 1 year low of $16.64 and a 1 year high of $24.45. The firm has a market cap of $429.68 million, a price-to-earnings ratio of 34.14 and a beta of 1.24. The company has a 50-day moving average of $18.81 and a 200 day moving average of $18.96. 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 (NASDAQ:KE) last announced its earnings results on Tuesday, February 4th. The electronics maker reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Kimball Electronics had a net margin of 0.78% and a return on equity of 5.63%. As a group, sell-side analysts anticipate that Kimball Electronics will post 1.06 earnings per share for the current fiscal year.

Institutional Trading of Kimball Electronics

Several institutional investors have recently bought and sold shares of the company. Point72 DIFC Ltd bought a new position in shares of Kimball Electronics in the third quarter worth approximately $25,000. nVerses Capital LLC purchased a new position in Kimball Electronics in the 3rd quarter worth approximately $48,000. Quest Partners LLC bought a new position in Kimball Electronics in the 3rd quarter valued at approximately $61,000. SG Americas Securities LLC lifted its position in Kimball Electronics by 78.5% in the 3rd quarter. SG Americas Securities LLC now owns 8,755 shares of the electronics maker’s stock valued at $162,000 after acquiring an additional 3,849 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of Kimball Electronics by 995.9% in the 3rd quarter. Quantbot Technologies LP now owns 9,019 shares of the electronics maker’s stock worth $167,000 after purchasing an additional 8,196 shares in the last quarter. 75.99% of the stock is owned by hedge funds and other institutional investors.

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.