Benchmark Electronics (NYSE:BHE) Stock Rating Upgraded by StockNews.com

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

Separately, Needham & Company LLC upped their price target on Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Benchmark Electronics Trading Down 0.4 %

Shares of BHE opened at $45.99 on Tuesday. Benchmark Electronics has a fifty-two week low of $25.35 and a fifty-two week high of $52.57. The business has a 50-day moving average of $47.50 and a 200 day moving average of $43.97. The firm has a market cap of $1.66 billion, a P/E ratio of 26.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36.

Benchmark Electronics (NYSE:BHE) last posted 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 for the quarter, compared to analyst estimates of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share.

Insider Activity at Benchmark Electronics

In other news, 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 directly owns 424,173 shares in the company, valued at approximately $19,469,540.70. This represents a 5.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rhonda R. Turner sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total value of $281,880.00. Following the transaction, the senior vice president now directly 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 disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BHE. Natixis Advisors LLC lifted its position in Benchmark Electronics by 8.7% in the second quarter. Natixis Advisors LLC now owns 25,155 shares of the technology company’s stock valued at $993,000 after purchasing an additional 2,015 shares during the last quarter. Rhumbline Advisers increased its holdings in Benchmark Electronics by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 115,465 shares of the technology company’s stock valued at $4,556,000 after purchasing an additional 692 shares during the period. Quest Partners LLC bought a new position in Benchmark Electronics during the 2nd quarter valued at approximately $41,000. ClariVest Asset Management LLC lifted its holdings in Benchmark Electronics by 2.8% in the 2nd quarter. ClariVest Asset Management LLC now owns 38,215 shares of the technology company’s stock worth $1,508,000 after buying an additional 1,027 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Benchmark Electronics by 176.6% in the 2nd 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 during the last quarter. 92.29% of the stock is owned by 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.