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

Benchmark Electronics (NYSE:BHE - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

A number of other equities research analysts also recently commented on the company. Lake Street Capital lifted their target price on Benchmark Electronics from $35.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Needham & Company LLC lifted their price target on Benchmark Electronics from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Benchmark Electronics currently has an average rating of "Moderate Buy" and an average target price of $41.33.

Benchmark Electronics Stock Up 0.6 %

NYSE:BHE traded up $0.25 during mid-day trading on Friday, hitting $44.51. 249,250 shares of the company's stock traded hands, compared to its average volume of 310,922. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 2.35. The company has a fifty day moving average of $42.86 and a 200 day moving average of $40.31. The company has a market capitalization of $1.60 billion, a P/E ratio of 24.32 and a beta of 0.98. Benchmark Electronics has a twelve month low of $23.00 and a twelve month high of $48.58.

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

Insider Activity

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.70, for a total value of $302,017.10. Following the completion of the sale, the director now directly owns 42,027 shares in the company, valued at $1,794,552.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.10% of the company's stock.

Institutional Trading of Benchmark Electronics

Several large investors have recently made changes to their positions in the company. Miller Howard Investments Inc. NY increased its position in shares of Benchmark Electronics by 1.8% during the second quarter. Miller Howard Investments Inc. NY now owns 15,244 shares of the technology company's stock worth $602,000 after purchasing an additional 263 shares in the last quarter. UMB Bank n.a. increased its position in shares of Benchmark Electronics by 65.7% during the second quarter. UMB Bank n.a. now owns 686 shares of the technology company's stock worth $27,000 after purchasing an additional 272 shares in the last quarter. Inspire Investing LLC increased its position in shares of Benchmark Electronics by 4.0% during the third quarter. Inspire Investing LLC now owns 9,346 shares of the technology company's stock worth $414,000 after purchasing an additional 362 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of 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 purchasing an additional 400 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of 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 worth $937,000 after purchasing an additional 405 shares in the last quarter. 92.29% of the stock is currently owned by hedge funds and other 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.

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