Short Interest in Kimball Electronics, Inc. (NASDAQ:KE) Increases By 10.4%

Kimball Electronics, Inc. (NASDAQ:KE) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 162,800 shares, a growth of 10.4% from the August 15th total of 147,500 shares. Based on an average trading volume of 89,800 shares, the short-interest ratio is currently 1.8 days. Currently, 0.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald boosted their price objective on Kimball Electronics from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, August 18th. StockNews.com began coverage on Kimball Electronics in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Lake Street Capital increased their target price on Kimball Electronics from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, August 18th.

Institutional Investors Weigh In On Kimball Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KE. US Bancorp DE lifted its holdings in shares of Kimball Electronics by 1,669.1% during the 1st quarter. US Bancorp DE now owns 5,962 shares of the electronics maker’s stock worth $144,000 after acquiring an additional 5,625 shares during the period. Cardinal Capital Management lifted its position in shares of Kimball Electronics by 1.6% during the first quarter. Cardinal Capital Management now owns 43,906 shares of the electronics maker’s stock valued at $1,058,000 after purchasing an additional 687 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in Kimball Electronics by 33.4% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 23,519 shares of the electronics maker’s stock worth $531,000 after buying an additional 5,889 shares during the last quarter. Larson Financial Group LLC increased its holdings in Kimball Electronics by 11,183.9% during the first quarter. Larson Financial Group LLC now owns 108,890 shares of the electronics maker’s stock worth $2,624,000 after buying an additional 107,925 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Kimball Electronics in the first quarter worth about $428,000. 70.56% of the stock is currently owned by institutional investors and hedge funds.

Kimball Electronics Trading Up 1.5 %

Kimball Electronics stock opened at $27.91 on Tuesday. The stock has a market cap of $689.94 million, a P/E ratio of 12.57 and a beta of 1.36. Kimball Electronics has a 12 month low of $17.10 and a 12 month high of $31.43. The company’s fifty day simple moving average is $28.96 and its 200-day simple moving average is $25.64. The company has a quick ratio of 1.01, a current ratio of 1.96 and a debt-to-equity ratio of 0.45.

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

Kimball Electronics Company Profile

Kimball Electronics, Inc engages in the provision of contract electronics manufacturing services and diversified manufacturing 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.