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 note issued on Tuesday.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC increased their price target on 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 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Benchmark Electronics has an average rating of “Moderate Buy” and an average price target of $42.33.

Benchmark Electronics Stock Down 0.5 %

BHE stock opened at $48.02 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average of $45.55 and a two-hundred day moving average of $42.77. Benchmark Electronics has a 12 month low of $24.75 and a 12 month high of $52.57. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 28.07 and a beta of 0.97.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $658.00 million during the quarter, compared to analyst estimates of $650.00 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Benchmark Electronics’s quarterly revenue was down 8.6% on a year-over-year basis.

Insider Activity

In related news, CEO Jeff Benck sold 24,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 424,173 shares in the company, valued at $19,469,540.70. This trade represents a 5.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Rhonda R. Turner sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 represents a 11.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Benchmark Electronics

Institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. increased its holdings in shares of Benchmark Electronics by 0.6% in the third quarter. Franklin Resources Inc. now owns 1,897,568 shares of the technology company’s stock valued at $84,081,000 after purchasing an additional 11,738 shares during the period. Geode Capital Management LLC grew its position in Benchmark Electronics by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company’s stock valued at $37,307,000 after buying an additional 21,355 shares during the last quarter. Vestcor Inc increased its stake in Benchmark Electronics by 50.5% in the 3rd quarter. Vestcor Inc now owns 15,054 shares of the technology company’s stock valued at $667,000 after buying an additional 5,054 shares during the period. Barclays PLC raised its position in Benchmark Electronics by 128.8% during the 3rd quarter. Barclays PLC now owns 86,024 shares of the technology company’s stock worth $3,814,000 after buying an additional 48,425 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of Benchmark Electronics by 10.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 193,205 shares of the technology company’s stock worth $8,555,000 after acquiring an additional 17,697 shares during the period. 92.29% of the stock is owned by hedge funds and other institutional investors.

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.