Benchmark Electronics Inc. (NYSE:BHE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday. The firm currently has a $27.00 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 13.92% from the stock’s current price.
According to Zacks, “Benchmark Electronics, Inc. provides contract electronics manufacturing and design services to original equipment manufacturers in select industries, including medical devices, communications equipment, industrial and business computers, testing instrumentation and industrial controls. They specializes in manufacturing high quality, technologically complex printed circuit board assemblies with computer-automated equipment using surface mount and pin-through-hole interconnection technologies for customers requiring low to medium volume production runs. “
Several large investors recently bought and sold shares of BHE. Federated Investors Inc. PA increased its stake in Benchmark Electronics by 2,967.7% in the fourth quarter. Federated Investors Inc. PA now owns 804,451 shares of the company’s stock worth $16,628,000 after buying an additional 778,228 shares during the last quarter. Norges Bank bought a new stake in Benchmark Electronics during the fourth quarter worth $12,560,000. Victory Capital Management Inc. increased its stake in Benchmark Electronics by 42.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,397,401 shares of the company’s stock worth $28,884,000 after buying an additional 414,516 shares during the last quarter. Hillcrest Asset Management LLC bought a new stake in Benchmark Electronics during the first quarter worth $7,357,000. Finally, Matarin Capital Management LLC bought a new stake in Benchmark Electronics during the fourth quarter worth $6,431,000.
A number of other equities analysts have also commented on BHE. B. Riley lowered shares of Benchmark Electronics from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $28.00 to $19.00 in a research report on Friday, April 22nd. Needham & Company LLC lowered their price target on shares of Benchmark Electronics from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, April 22nd. Finally, TheStreet lowered shares of Benchmark Electronics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 28th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Benchmark Electronics has an average rating of “Buy” and a consensus price target of $24.00.
Shares of Benchmark Electronics (NYSE:BHE) traded up 2.07% on Monday, reaching $23.70. 451,770 shares of the company traded hands. The stock has a 50 day moving average of $21.59 and a 200 day moving average of $21.13. The stock has a market cap of $1.17 billion and a price-to-earnings ratio of 14.40. Benchmark Electronics has a 52-week low of $18.36 and a 52-week high of $23.76.
Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $579 million for the quarter, compared to analyst estimates of $582.89 million. During the same quarter last year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, analysts expect that Benchmark Electronics will post $1.37 earnings per share for the current year.
Benchmark Electronics, Inc (Benchmark) is a provider of integrated electronic manufacturing services. Benchmark provides its services to original equipment manufacturers (OEMs) of industrial control equipment, including aerospace and defense equipment, telecommunication equipment, medical devices, and testing and instrumentation products.
by Chris Copeland