Benchmark Electronics (NYSE:BHE) Upgraded to “Buy” at StockNews.com

Benchmark Electronics (NYSE:BHE) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other equities analysts have also issued reports on the company. Lake Street Capital raised their price target on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC raised their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Benchmark Electronics presently has an average rating of “Moderate Buy” and an average target price of $42.33.

Benchmark Electronics Stock Up 0.7 %

Shares of NYSE BHE opened at $48.52 on Tuesday. The stock has a market capitalization of $1.75 billion, a P/E ratio of 28.21 and a beta of 0.97. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45. Benchmark Electronics has a one year low of $24.75 and a one year high of $52.57. The firm’s 50 day simple moving average is $45.32 and its two-hundred day simple moving average is $42.65.

Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The company had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $650.00 million. During the same quarter last year, the company earned $0.57 EPS. The firm’s revenue was down 8.6% compared to the same quarter last year.

Insider Activity

In other Benchmark Electronics news, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total value of $281,880.00. Following the completion of the transaction, the senior vice president now owns 47,991 shares in the company, valued at approximately $2,254,617.18. This represents a 11.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the sale, the chief executive officer now directly owns 424,173 shares in the company, valued at $19,469,540.70. The trade was a 5.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Institutional Trading of Benchmark Electronics

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Benchmark Electronics by 3.4% during the first quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company’s stock valued at $145,405,000 after buying an additional 159,716 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Benchmark Electronics by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 31,211 shares of the technology company’s stock valued at $936,000 after acquiring an additional 647 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Benchmark Electronics in the first quarter worth approximately $166,000. Price T Rowe Associates Inc. MD grew its stake in shares of Benchmark Electronics by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,852 shares of the technology company’s stock worth $956,000 after acquiring an additional 1,167 shares during the period. Finally, Caxton Associates LP bought a new position in Benchmark Electronics during the first quarter valued at approximately $272,000. Institutional investors own 92.29% of the company’s stock.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.