Benchmark Electronics (NYSE:BHE) Upgraded 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.

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

Benchmark Electronics Price Performance

Benchmark Electronics stock opened at $48.52 on Tuesday. The stock’s 50 day moving average is $45.32 and its 200 day moving average is $42.65. Benchmark Electronics has a one year low of $24.75 and a one year high of $52.57. The firm has a market cap 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 (NYSE:BHE) last released its earnings results on Wednesday, October 30th. The technology company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.54 by $0.03. The business had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $650.00 million. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The firm’s revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 earnings per share.

Insider Buying and Selling at Benchmark Electronics

In related news, SVP Rhonda R. Turner sold 6,000 shares of Benchmark Electronics stock in a transaction dated 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 sale, the senior vice president now owns 47,991 shares of the company’s stock, valued at approximately $2,254,617.18. This trade represents a 11.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the 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 transaction, the chief executive officer now owns 424,173 shares of the company’s stock, valued at $19,469,540.70. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Benchmark Electronics

Several hedge funds have recently made changes to their positions in BHE. Captrust Financial Advisors boosted its holdings in Benchmark Electronics by 3.8% in the 3rd quarter. Captrust Financial Advisors now owns 6,535 shares of the technology company’s stock valued at $290,000 after purchasing an additional 242 shares during the period. Miller Howard Investments Inc. NY boosted its stake in Benchmark Electronics by 1.8% during the second quarter. Miller Howard Investments Inc. NY now owns 15,244 shares of the technology company’s stock valued at $602,000 after buying an additional 263 shares during the period. UMB Bank n.a. grew its position in Benchmark Electronics by 65.7% during the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock worth $27,000 after buying an additional 272 shares in the last quarter. Versor Investments LP increased its stake in Benchmark Electronics by 2.2% in the 3rd quarter. Versor Investments LP now owns 14,115 shares of the technology company’s stock worth $626,000 after acquiring an additional 300 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Benchmark Electronics by 4.0% in the 3rd quarter. Inspire Investing LLC now owns 9,346 shares of the technology company’s stock valued at $414,000 after acquiring an additional 362 shares in the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

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.