February 27, 2023, ST. PETERSBURG, FL – Water Tower Research (www.watertowerresearch.com) has published an Initiation of Coverage Report on Kimball International, Inc. (NASDAQ: KBAL) titled, “Initiating Coverage”. The report can be accessed here.
Kimball has a long and storied history. Management initiated its current strategy in 2014 as a pure play on commercial furniture in three end-markets: Workplace, Healthcare, and Hospitality. Under the leadership of veteran executive Kristie Juster, Kimball has demonstrated operating discipline in the face of challenging industry and macroeconomic conditions.
Kimball occupies a niche in accessory commercial furnishings with a focus on small- and mid- market customers. The company has demonstrated a commitment to good governance, conservative financial management, plus transparency with and commitment to stakeholders. For investors, Kimball has a consistent history of returning capital as dividends and buybacks.
The opportunity for investors, most likely small-cap, value-oriented investors, lies in the divergence between the quality of the business as seen in the resilient operating performance and the recent stock performance. Kimball is trading at 1.4x P/B (recovered modestly from 1.1x at year-end 2022) and ~6.3x forward FY23 EV/EBITDA.
About Water Tower Research
Water Tower Research is an investor engagement and stakeholder communication platform powered by Wall Street veterans with significant experience and credibility. We create, deliver, and maintain the information flow required to build and preserve relationships between companies and all their stakeholders and investors. “Research for the other 99%™” opens the door for every investor to stay informed and ensures transparency, better engagement, and equal communication.
Contact Information:
Name: Water Tower Research LLC
Email: research@watertowerresearch.com
Job Title: WTR Investor Engagement
