Benchmark Electronics (NYSE:BHE) Rating Increased to Buy at StockNews.com

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

BHE has been the topic of a number of other research reports. Needham & Company LLC lifted 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. Lake Street Capital upped their price target on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Benchmark Electronics currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

Benchmark Electronics Trading Down 0.4 %

Shares of Benchmark Electronics stock opened at $48.28 on Tuesday. Benchmark Electronics has a fifty-two week low of $24.75 and a fifty-two week high of $52.57. The business’s fifty day moving average is $45.45 and its two-hundred day moving average is $42.71. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.74 billion, a PE ratio of 28.21 and a beta of 0.97.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 2.32% and a return on equity of 6.81%. Benchmark Electronics’s revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share.

Benchmark Electronics Increases Dividend

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

Insider Buying and Selling

In related news, SVP Rhonda R. Turner sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total value of $281,880.00. Following the completion of the transaction, the senior vice president now directly owns 47,991 shares of the company’s stock, valued at approximately $2,254,617.18. This trade represents a 11.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 424,173 shares in the company, valued at $19,469,540.70. The trade was a 5.36 % 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.

Institutional Trading of Benchmark Electronics

A number of hedge funds have recently made changes to their positions in BHE. UMB Bank n.a. grew its stake in shares of Benchmark Electronics by 65.7% in 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. Quest Partners LLC purchased a new stake in Benchmark Electronics in the 2nd quarter valued at about $41,000. CWM LLC grew its holdings in shares of Benchmark Electronics by 81.9% in the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock valued at $44,000 after acquiring an additional 498 shares in the last quarter. Quarry LP increased its position in shares of Benchmark Electronics by 172.5% during the second quarter. Quarry LP now owns 1,379 shares of the technology company’s stock valued at $54,000 after acquiring an additional 873 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Benchmark Electronics by 125.3% during the 3rd quarter. KBC Group NV now owns 1,534 shares of the technology company’s stock worth $68,000 after purchasing an additional 853 shares during the period. 92.29% of the stock is owned by institutional investors and hedge funds.

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.