Kimball Electronics, Inc. (NASDAQ:KE) Short Interest Update

Kimball Electronics, Inc. (NASDAQ:KE) was the recipient of a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 147,500 shares, a drop of 5.3% from the July 31st total of 155,700 shares. Based on an average daily trading volume, of 94,500 shares, the short-interest ratio is presently 1.6 days. Currently, 0.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KE shares. Lake Street Capital raised their price target on shares of Kimball Electronics from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Cantor Fitzgerald upped their price objective on shares of Kimball Electronics from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, August 18th. Finally, StockNews.com started coverage on shares of Kimball Electronics in a research report on Thursday, August 17th. They issued a “hold” rating for the company.

Kimball Electronics Price Performance

Kimball Electronics stock opened at $29.80 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.01 and a current ratio of 1.96. Kimball Electronics has a 52 week low of $17.10 and a 52 week high of $30.29. The stock has a market capitalization of $736.66 million, a P/E ratio of 13.42 and a beta of 1.36. The stock has a fifty day moving average of $28.45 and a 200-day moving average of $25.33.

Kimball Electronics (NASDAQ:KE) last issued its earnings results on Thursday, August 17th. The electronics maker reported $0.76 EPS for the quarter, topping the consensus estimate of $0.66 by $0.10. Kimball Electronics had a return on equity of 11.39% and a net margin of 3.06%. The firm had revenue of $496.14 million during the quarter. During the same period in the previous year, the firm posted $0.40 EPS. On average, sell-side analysts expect that Kimball Electronics will post 2.35 earnings per share for the current fiscal year.

Institutional Trading of Kimball Electronics

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Kimball Electronics by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,031,384 shares of the electronics maker’s stock worth $48,956,000 after purchasing an additional 26,049 shares during the period. BlackRock Inc. raised its position in Kimball Electronics by 6.2% during the 2nd quarter. BlackRock Inc. now owns 1,930,304 shares of the electronics maker’s stock worth $53,334,000 after purchasing an additional 112,093 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Kimball Electronics by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 1,388,705 shares of the electronics maker’s stock worth $27,759,000 after buying an additional 25,073 shares during the period. Royce & Associates LP grew its position in shares of Kimball Electronics by 0.4% in the 2nd quarter. Royce & Associates LP now owns 868,551 shares of the electronics maker’s stock valued at $23,998,000 after buying an additional 3,218 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Kimball Electronics by 3.2% in the first quarter. Bank of America Corp DE now owns 846,381 shares of the electronics maker’s stock valued at $20,398,000 after buying an additional 26,210 shares during the period. Institutional investors and hedge funds own 70.56% of the company’s stock.

Kimball Electronics Company Profile

Kimball Electronics, Inc provides contract electronics manufacturing services and diversified manufacturing services to customers in the automotive, medical, industrial, and public safety end markets. The company's manufacturing services include design services and support, supply chain services and support, and rapid prototyping and product introduction support services, as well as product design, and process validation and qualification services.