Benchmark Electronics (NYSE:BHE) Downgraded to Hold Rating by StockNews.com

Benchmark Electronics (NYSE:BHE - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a report released on Saturday.

A number of other brokerages also recently issued reports on BHE. Lake Street Capital boosted their price objective on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Needham & Company LLC boosted their price target on Benchmark Electronics from $45.00 to $48.00 and gave the company a "buy" rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Benchmark Electronics has a consensus rating of "Hold" and an average target price of $42.33.

Benchmark Electronics Stock Performance

Shares of BHE traded up $2.62 during trading hours on Friday, hitting $45.92. The stock had a trading volume of 346,655 shares, compared to its average volume of 309,842. The firm has a market capitalization of $1.66 billion, a PE ratio of 26.70 and a beta of 0.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.42. Benchmark Electronics has a 12 month low of $23.62 and a 12 month high of $48.58. The stock has a fifty day moving average price of $43.15 and a 200 day moving average price of $40.85.

Benchmark Electronics (NYSE:BHE - Get 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, beating analysts' consensus estimates of $0.51 by $0.06. Benchmark Electronics had a return on equity of 6.84% and a net margin of 2.32%. The business had revenue of $666.00 million during the quarter, compared to the consensus estimate of $635.75 million. During the same period in the previous year, the company posted $0.48 EPS. The business's quarterly revenue was down 9.2% compared to the same quarter last year.

Insiders Place Their Bets

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the company'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 owns 42,027 shares in the company, valued at approximately $1,794,552.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Miller Howard Investments Inc. NY grew its position in Benchmark Electronics by 1.8% in the second quarter. Miller Howard Investments Inc. NY now owns 15,244 shares of the technology company's stock worth $602,000 after acquiring an additional 263 shares in the last quarter. UMB Bank n.a. raised 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 valued at $27,000 after buying an additional 272 shares during the period. Inspire Investing LLC lifted its position in Benchmark Electronics by 4.0% in the third quarter. Inspire Investing LLC now owns 9,346 shares of the technology company's stock worth $414,000 after buying an additional 362 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Benchmark Electronics by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the technology company's stock worth $714,000 after buying an additional 400 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in Benchmark Electronics by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 31,229 shares of the technology company's stock valued at $937,000 after acquiring an additional 405 shares during the last quarter. 92.29% of the stock is currently owned by institutional investors.

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.