Kimball International, Inc. (KBAL) Upgraded to “Sell” at BidaskClub
Kimball International, Inc. (NASDAQ:KBAL) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
Kimball International (NASDAQ KBAL) traded up 0.48% during midday trading on Friday, hitting $16.74. 84,255 shares of the stock were exchanged. Kimball International has a 52 week low of $11.86 and a 52 week high of $18.94. The stock has a market cap of $623.75 million, a price-to-earnings ratio of 16.91 and a beta of 1.54. The firm’s 50-day moving average is $16.62 and its 200 day moving average is $16.92.
Kimball International (NASDAQ:KBAL) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.05. Kimball International had a net margin of 5.60% and a return on equity of 22.62%. The business had revenue of $171.98 million during the quarter. Equities research analysts expect that Kimball International will post $0.69 EPS for the current fiscal year.
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In related news, CEO Robert F. Schneider sold 31,790 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $16.05, for a total transaction of $510,229.50. Following the completion of the sale, the chief executive officer now directly owns 280,621 shares of the company’s stock, valued at $4,503,967.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Winkle Donald W. Van sold 64,352 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $17.37, for a total transaction of $1,117,794.24. Following the sale, the president now directly owns 104,195 shares of the company’s stock, valued at $1,809,867.15. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in KBAL. BNP Paribas Arbitrage SA raised its stake in Kimball International by 1,322.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,302 shares of the company’s stock valued at $105,000 after buying an additional 5,859 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in Kimball International during the second quarter valued at approximately $119,000. Legal & General Group Plc raised its stake in Kimball International by 3.8% in the second quarter. Legal & General Group Plc now owns 10,060 shares of the company’s stock valued at $168,000 after buying an additional 366 shares in the last quarter. Victory Capital Management Inc. raised its stake in Kimball International by 17.6% in the second quarter. Victory Capital Management Inc. now owns 10,534 shares of the company’s stock valued at $176,000 after buying an additional 1,578 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Kimball International by 3.0% in the second quarter. Royal Bank of Canada now owns 11,236 shares of the company’s stock valued at $187,000 after buying an additional 332 shares in the last quarter. 61.58% of the stock is owned by institutional investors and hedge funds.
About Kimball International
Kimball International, Inc creates design driven furnishings. The Company sells a portfolio of furniture products and services under three brands, which include Kimball Office, National Office Furniture, and Kimball Hospitality. The Company’s portfolio offers solutions for the workplace, learning, healing, and hospitality environments.
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