Benchmark Electronics (NYSE:BHE) Upgraded at StockNews.com

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

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

Benchmark Electronics Price Performance

BHE opened at $45.99 on Tuesday. Benchmark Electronics has a 12-month low of $25.35 and a 12-month high of $52.57. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 26.74 and a beta of 1.00. 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 stock has a fifty day simple moving average of $47.50 and a two-hundred day simple moving average of $43.97.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results 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. The company had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. Benchmark Electronics’s revenue was down 8.6% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS.

Insider Buying and Selling

In other Benchmark Electronics news, CEO Jeff Benck sold 24,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were 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 approximately $19,469,540.70. This represents a 5.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $281,880.00. Following the transaction, the senior vice president now directly owns 47,991 shares of the company’s stock, valued at $2,254,617.18. The trade was 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 owned by company insiders.

Institutional Trading of Benchmark Electronics

Hedge funds have recently bought and sold shares of the company. Natixis Advisors LLC boosted 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 worth $993,000 after purchasing an additional 2,015 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Benchmark Electronics by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 115,465 shares of the technology company’s stock worth $4,556,000 after purchasing an additional 692 shares during the period. Quest Partners LLC purchased a new position in shares of Benchmark Electronics in the second quarter worth approximately $41,000. ClariVest Asset Management LLC grew its position in Benchmark Electronics by 2.8% during the second quarter. ClariVest Asset Management LLC now owns 38,215 shares of the technology company’s stock valued at $1,508,000 after buying an additional 1,027 shares during the period. Finally, American Century Companies Inc. increased 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 valued at $24,269,000 after buying an additional 392,699 shares during the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.

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.