Renaissance Technologies LLC Takes Position in Kimball Electronics, Inc. (NASDAQ:KE)

Renaissance Technologies LLC bought a new stake in shares of Kimball Electronics, Inc. (NASDAQ:KE) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 14,800 shares of the electronics maker’s stock, valued at approximately $325,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in Kimball Electronics by 45.9% during the first quarter. Vanguard Group Inc. now owns 1,808,516 shares of the electronics maker’s stock valued at $39,154,000 after buying an additional 569,015 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Kimball Electronics by 80.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 273,636 shares of the electronics maker’s stock valued at $6,015,000 after acquiring an additional 122,336 shares in the last quarter. Foundry Partners LLC increased its stake in shares of Kimball Electronics by 10.0% in the second quarter. Foundry Partners LLC now owns 216,955 shares of the electronics maker’s stock worth $4,769,000 after acquiring an additional 19,730 shares during the last quarter. Donald Smith & CO. Inc. raised its holdings in shares of Kimball Electronics by 67.0% during the second quarter. Donald Smith & CO. Inc. now owns 207,604 shares of the electronics maker’s stock worth $4,563,000 after acquiring an additional 83,317 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Kimball Electronics by 39.7% during the second quarter. American Century Companies Inc. now owns 198,560 shares of the electronics maker’s stock valued at $4,364,000 after purchasing an additional 56,468 shares during the last quarter. 75.99% of the stock is owned by hedge funds and other institutional investors.

Kimball Electronics Stock Up 3.0 %

Shares of KE stock opened at $17.65 on Friday. The stock’s 50 day simple moving average is $18.31 and its 200 day simple moving average is $20.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.36 and a current ratio of 2.26. Kimball Electronics, Inc. has a twelve month low of $16.64 and a twelve month high of $27.85. The company has a market capitalization of $438.94 million, a price-to-earnings ratio of 13.79 and a beta of 1.26.

Kimball Electronics (NASDAQ:KE) last issued its quarterly earnings data on Tuesday, August 13th. The electronics maker reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). Kimball Electronics had a net margin of 1.20% and a return on equity of 6.65%. The company had revenue of $430.16 million during the quarter, compared to the consensus estimate of $429.00 million. During the same period in the previous year, the business posted $0.76 earnings per share. As a group, research analysts predict that Kimball Electronics, Inc. will post 1.17 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. B. Riley dropped their target price on Kimball Electronics from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Lake Street Capital lowered their price target on Kimball Electronics from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Cantor Fitzgerald cut their price objective on shares of Kimball Electronics from $28.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. EF Hutton Acquisition Co. I downgraded shares of Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Sidoti downgraded shares of Kimball Electronics from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.25.

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.