- March quarter results were soft, but trends are slowly recovering, and company has a solid backlog.
- Kimball has 46% upside and favorable risk-reward at today’s price, plus an attractive stock chart.
- The company is undervalued on our steady-state FY06/2022 estimate with a P/E of 9.2x.
- On a recovery, we see spending on furniture in the commercial space returning to pre-COVID levels with pent-up demand and increased backlogs.
- Recent takeover of rival Knoll by Herman Miller at much higher multiples is positive for the entire industry.
For further details see:
Kimball: Strong Recovery In H2 Of Calendar Year 2022, 9.2x P/E And 46% Upside