Benchmark Electronics, Inc. (NYSE:BHE) Given Average Rating of “Hold” by Brokerages
Benchmark Electronics, Inc. (NYSE:BHE) has been given an average rating of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $33.25.
Several research firms have recently commented on BHE. Citigroup Inc. reissued a “neutral” rating and set a $36.00 price target (up from $32.00) on shares of Benchmark Electronics in a research note on Friday, July 21st. Royal Bank Of Canada increased their price target on shares of Benchmark Electronics from $33.00 to $37.00 and gave the company a “sector perform” rating in a research note on Thursday, July 20th. Needham & Company LLC increased their price target on shares of Benchmark Electronics from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Finally, BidaskClub cut shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th.
Benchmark Electronics (NYSE:BHE) opened at 32.80 on Tuesday. The stock’s 50 day moving average price is $33.28 and its 200 day moving average price is $32.08. The firm has a market capitalization of $1.63 billion, a P/E ratio of 24.12 and a beta of 0.51. Benchmark Electronics has a 12 month low of $23.22 and a 12 month high of $35.25.
Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. Benchmark Electronics had a net margin of 2.84% and a return on equity of 5.59%. The business had revenue of $616.90 million for the quarter, compared to analysts’ expectations of $577 million. During the same period in the prior year, the firm earned $0.31 earnings per share. Benchmark Electronics’s revenue was up 6.5% compared to the same quarter last year. On average, analysts forecast that Benchmark Electronics will post $1.49 earnings per share for the current year.
In other Benchmark Electronics news, CFO Donald Francis Adam sold 61,572 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $33.60, for a total value of $2,068,819.20. Following the transaction, the chief financial officer now directly owns 112,856 shares of the company’s stock, valued at $3,791,961.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in BHE. BlackRock Inc. boosted its position in shares of Benchmark Electronics by 43,795.9% in the first quarter. BlackRock Inc. now owns 6,102,845 shares of the technology company’s stock worth $194,070,000 after buying an additional 6,088,942 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Benchmark Electronics by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,528,732 shares of the technology company’s stock worth $144,013,000 after buying an additional 233,703 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Benchmark Electronics by 16.7% in the first quarter. JPMorgan Chase & Co. now owns 2,454,209 shares of the technology company’s stock worth $78,044,000 after buying an additional 351,992 shares during the last quarter. State Street Corp boosted its position in shares of Benchmark Electronics by 0.8% in the first quarter. State Street Corp now owns 1,345,668 shares of the technology company’s stock worth $42,792,000 after buying an additional 11,303 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Benchmark Electronics by 8.3% in the second quarter. Acadian Asset Management LLC now owns 1,108,812 shares of the technology company’s stock worth $35,813,000 after buying an additional 85,119 shares in the last quarter. 97.32% of the stock is currently owned by hedge funds and other institutional investors.
About Benchmark Electronics
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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