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

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

Several other equities research analysts have also recently commented on the stock. Lake Street Capital boosted their price target on shares of Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC boosted their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Benchmark Electronics has an average rating of “Hold” and an average price target of $42.33.

Benchmark Electronics Trading Up 1.0 %

Benchmark Electronics stock opened at $47.32 on Monday. Benchmark Electronics has a 12-month low of $24.75 and a 12-month high of $52.57. The stock has a market capitalization of $1.70 billion, a PE ratio of 27.51 and a beta of 0.97. The firm has a 50 day simple moving average of $44.79 and a 200-day simple moving average of $42.39. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45.

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. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The firm had revenue of $658.00 million during the quarter, compared to analyst estimates of $650.00 million. During the same period last year, the company posted $0.57 EPS. The firm’s quarterly revenue was down 8.6% on a year-over-year basis.

Insiders Place Their Bets

In related news, CEO Jeff Benck sold 24,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total value of $1,101,600.00. Following the completion of the sale, the chief executive officer now directly owns 424,173 shares of the company’s stock, valued at approximately $19,469,540.70. This represents a 5.36 % decrease in their position. The sale was disclosed in a legal 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 dated Monday, August 26th. The stock was sold at an average price of $42.70, for a total value of $302,017.10. Following the sale, the director now owns 42,027 shares of the company’s stock, valued at $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. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHE. Captrust Financial Advisors boosted its stake in shares of Benchmark Electronics by 3.8% during the 3rd quarter. Captrust Financial Advisors now owns 6,535 shares of the technology company’s stock valued at $290,000 after buying an additional 242 shares during the period. Miller Howard Investments Inc. NY boosted its position in 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 valued at $602,000 after purchasing an additional 263 shares during the last quarter. UMB Bank n.a. grew its stake in Benchmark Electronics by 65.7% in the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock valued at $27,000 after purchasing an additional 272 shares in the last quarter. Versor Investments LP grew its stake in Benchmark Electronics by 2.2% in the third quarter. Versor Investments LP now owns 14,115 shares of the technology company’s stock valued at $626,000 after purchasing an additional 300 shares in the last quarter. Finally, Inspire Investing LLC increased its position in Benchmark Electronics by 4.0% in the 3rd quarter. Inspire Investing LLC now owns 9,346 shares of the technology company’s stock worth $414,000 after purchasing an additional 362 shares during the last quarter. 92.29% of the stock is owned by hedge funds and other institutional investors.

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.