Benchmark Electronics (NYSE:BHE) Rating Lowered to “Hold” at StockNews.com

Benchmark Electronics (NYSE:BHE) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC lifted their target price 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 upped their price target on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.33.

Benchmark Electronics Stock Performance

Shares of BHE traded down $0.21 during mid-day trading on Monday, hitting $46.85. The stock had a trading volume of 210,711 shares, compared to its average volume of 308,281. The company has a market cap of $1.69 billion, a PE ratio of 27.24 and a beta of 0.97. The company’s fifty day simple moving average is $44.64 and its two-hundred day simple moving average is $42.31. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25. Benchmark Electronics has a fifty-two week low of $24.75 and a fifty-two week high of $52.57.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. The business had revenue of $658.00 million for the quarter, compared to the consensus estimate of $650.00 million. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The business’s revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS.

Insider Activity at Benchmark Electronics

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 shares were sold at an average price of $45.90, for a total value of $1,101,600.00. Following the completion of the transaction, the chief executive officer now directly owns 424,173 shares of the company’s stock, valued at approximately $19,469,540.70. This trade represents a 5.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $302,017.10. Following the completion of the transaction, the director now directly owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. The trade was a 14.41 % 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 company insiders.

Hedge Funds Weigh In On Benchmark Electronics

Large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its position in shares of Benchmark Electronics by 13.8% during the first quarter. Janney Montgomery Scott LLC now owns 9,563 shares of the technology company’s stock valued at $287,000 after buying an additional 1,161 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Benchmark Electronics during the 1st quarter valued at $224,000. SG Americas Securities LLC purchased a new position in Benchmark Electronics during the first quarter valued at $136,000. Sei Investments Co. grew its stake in Benchmark Electronics by 6.9% during the first quarter. Sei Investments Co. now owns 108,492 shares of the technology company’s stock valued at $3,256,000 after acquiring an additional 6,976 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Benchmark Electronics in the 1st quarter worth $214,000. 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.