Benchmark Electronics (NYSE:BHE) Upgraded by StockNews.com to Buy

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

Several other equities analysts have also commented on the company. Needham & Company LLC upped their price target on Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Lake Street Capital upped their price target on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research note 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $41.33.

Benchmark Electronics Trading Up 0.6 %

NYSE BHE traded up $0.25 on Friday, reaching $44.51. 249,250 shares of the company were exchanged, compared to its average volume of 310,922. The business’s fifty day moving average price is $42.86 and its 200 day moving average price is $40.31. The stock has a market capitalization of $1.60 billion, a P/E ratio of 24.32 and a beta of 0.98. The company has a current ratio of 2.35, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26. Benchmark Electronics has a fifty-two week low of $23.00 and a fifty-two week high of $48.58.

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

Insider Buying and Selling

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the transaction, the director now owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. This 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 owned by corporate insiders.

Hedge Funds Weigh In On Benchmark Electronics

Hedge funds have recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in Benchmark Electronics by 65.7% during the 2nd quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock worth $27,000 after purchasing an additional 272 shares during the period. Quest Partners LLC purchased a new stake in Benchmark Electronics during the 2nd quarter worth about $41,000. CWM LLC increased its holdings in Benchmark Electronics by 81.9% during the 2nd quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after purchasing an additional 498 shares during the period. Quarry LP increased its holdings in Benchmark Electronics by 172.5% during the 2nd quarter. Quarry LP now owns 1,379 shares of the technology company’s stock worth $54,000 after purchasing an additional 873 shares during the period. Finally, Innealta Capital LLC purchased a new stake in Benchmark Electronics during the 2nd quarter worth about $61,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

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.