Benchmark Electronics (NYSE:BHE) Rating Increased to Buy at StockNews.com

Benchmark Electronics (NYSE:BHEGet Free Report) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other analysts also recently commented on the stock. Needham & Company LLC upped their price target on shares of Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Lake Street Capital lifted their price objective on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Benchmark Electronics currently has an average rating of “Moderate Buy” and a consensus target price of $41.33.

View Our Latest Analysis on BHE

Benchmark Electronics Stock Performance

Shares of BHE stock opened at $44.51 on Friday. The stock’s 50-day moving average is $42.86 and its two-hundred day moving average is $40.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 2.35. Benchmark Electronics has a 1 year low of $23.00 and a 1 year high of $48.58. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 24.32 and a beta of 0.98.

Benchmark Electronics (NYSE:BHEGet Free Report) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Benchmark Electronics had a return on equity of 7.17% and a net margin of 2.45%. The firm had revenue of $666.00 million for the quarter, compared to the consensus estimate of $635.75 million. During the same quarter last year, the business posted $0.48 EPS. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year.

Insider Buying and Selling at Benchmark Electronics

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the completion of the sale, the director now owns 42,027 shares in the company, valued at approximately $1,794,552.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Benchmark Electronics

Several hedge funds have recently modified their holdings of BHE. Pacer Advisors Inc. acquired a new stake in Benchmark Electronics in the second quarter valued at $70,424,000. American Century Companies Inc. boosted its holdings in Benchmark Electronics by 176.6% during the second quarter. American Century Companies Inc. now owns 615,036 shares of the technology company’s stock worth $24,269,000 after buying an additional 392,699 shares in the last quarter. Millennium Management LLC grew its position in Benchmark Electronics by 85.9% during the second quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock worth $17,606,000 after buying an additional 206,114 shares during the period. Vanguard Group Inc. increased its holdings in Benchmark Electronics by 3.4% in 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 in the last quarter. Finally, Advisors Preferred LLC purchased a new position in Benchmark Electronics in the first quarter valued at about $2,883,000. 92.29% of the stock is owned by institutional investors and hedge funds.

Benchmark Electronics Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Benchmark Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Benchmark Electronics and related companies with MarketBeat.com's FREE daily email newsletter.