StockNews.com Upgrades Benchmark Electronics (NYSE:BHE) to Buy

Benchmark Electronics (NYSE:BHE) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Several other research analysts have also recently commented on the stock. 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. Lake Street Capital raised their price objective on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.33.

Benchmark Electronics Stock Up 0.8 %

Shares of Benchmark Electronics stock opened at $51.83 on Friday. The business has a 50-day moving average price of $43.83 and a 200 day moving average price of $41.60. Benchmark Electronics has a fifty-two week low of $23.75 and a fifty-two week high of $52.49. The firm has a market cap of $1.87 billion, a P/E ratio of 30.13 and a beta of 0.97. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share.

Insider Buying and Selling

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the transaction, the director now owns 42,027 shares of the company’s stock, valued at $1,794,552.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 424,173 shares of the company’s stock, valued at approximately $19,469,540.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Stephen Mccreary sold 7,073 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.70, for a total value of $302,017.10. Following the transaction, the director now directly owns 42,027 shares of the company’s stock, valued at $1,794,552.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Benchmark Electronics

Several institutional investors have recently modified their holdings of BHE. UMB Bank n.a. grew its position in shares of Benchmark Electronics by 65.7% during the 2nd quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock valued at $27,000 after acquiring an additional 272 shares during the period. Quest Partners LLC purchased a new stake in shares of Benchmark Electronics during the 2nd quarter valued at $41,000. CWM LLC raised its position in shares of Benchmark Electronics by 81.9% during the 2nd quarter. CWM LLC now owns 1,106 shares of the technology company’s stock valued at $44,000 after buying an additional 498 shares in the last quarter. Quarry LP raised its position in shares of Benchmark Electronics by 172.5% during the 2nd quarter. Quarry LP now owns 1,379 shares of the technology company’s stock valued at $54,000 after buying an additional 873 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in Benchmark Electronics in the 2nd quarter worth $61,000. Institutional investors own 92.29% of the company’s stock.

About Benchmark Electronics

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.