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

StockNews.com upgraded shares of Benchmark Electronics (NYSE:BHE) from a hold rating to a buy rating in a report issued on Tuesday morning.

Other equities analysts have also issued reports about the stock. Lake Street Capital boosted their price objective on shares of 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 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, November 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.33.

Benchmark Electronics Price Performance

Shares of Benchmark Electronics stock opened at $48.28 on Tuesday. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 28.21 and a beta of 0.97. Benchmark Electronics has a 52-week low of $24.75 and a 52-week high of $52.57. The company has a fifty day moving average of $45.45 and a 200-day moving average of $42.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36.

Benchmark Electronics (NYSE:BHE) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The firm had revenue of $658.00 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share.

Benchmark Electronics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.17 per share. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a yield of 1.41%. The ex-dividend date was Monday, September 30th. Benchmark Electronics’s dividend payout ratio (DPR) is presently 39.53%.

Insider Activity

In other news, SVP Rhonda R. Turner sold 6,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total transaction of $281,880.00. Following the sale, the senior vice president now directly owns 47,991 shares of the company’s stock, valued at $2,254,617.18. The trade was a 11.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the completion of the sale, the chief executive officer now directly owns 424,173 shares in the company, valued at $19,469,540.70. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Benchmark Electronics

Large investors have recently made changes to their positions in the company. Captrust Financial Advisors boosted its position in Benchmark Electronics by 3.8% during the third quarter. Captrust Financial Advisors now owns 6,535 shares of the technology company’s stock worth $290,000 after acquiring an additional 242 shares during the last quarter. Miller Howard Investments Inc. NY boosted its holdings in shares of Benchmark Electronics by 1.8% during the 2nd 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 during the last quarter. UMB Bank n.a. grew its position in shares of 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 increased its holdings in shares of 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 during the last quarter. Finally, Inspire Investing LLC lifted its position in 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 buying an additional 362 shares in the last quarter. 92.29% of the stock is currently 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.