Kimball International (KBALB) trades at a discount to its pure play competitors due to a conglomerate structure and the fact that the founding family effectively controls the company through Class A shares. However a recovery in each of the business segments, a strong balance sheet and an overlooked loophole allowing for a takeover provides significant upside potential.
KBALB operates in two business segments: electronic manufacturing services (EMS) and furniture.
The EMS segment provides contract engineering and manufacturing services utilizing common production and support capabilities globally to the medical, automotive, industrial and public safety industries. The electronics segment began more than 50 years ago with the production of electronics for the organ business in 1961....
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