Benchmark Electronics (NYSE:BHE) was upgraded by analysts at TheStreet from a “c” rating to a “b” rating in a research report issued to clients and investors on Friday.
A number of other equities research analysts also recently issued reports on the stock. Sidoti assumed coverage on shares of Benchmark Electronics in a research note on Friday, January 18th. They issued a “buy” rating and a $34.00 price target on the stock. Citigroup reduced their price target on shares of Benchmark Electronics from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 31st.
Shares of BHE stock opened at $27.42 on Friday. The company has a current ratio of 2.61, a quick ratio of 2.04 and a debt-to-equity ratio of 0.13. Benchmark Electronics has a 12 month low of $20.01 and a 12 month high of $32.53. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 18.91 and a beta of 0.67.
Benchmark Electronics (NYSE:BHE) last issued its earnings results on Thursday, February 7th. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. Benchmark Electronics had a net margin of 0.89% and a return on equity of 5.60%. The company had revenue of $657.00 million for the quarter, compared to the consensus estimate of $632.27 million. During the same period in the previous year, the firm earned $0.49 earnings per share. Benchmark Electronics’s quarterly revenue was down 1.4% compared to the same quarter last year.
Benchmark Electronics declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 30th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 9.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
Several institutional investors have recently modified their holdings of BHE. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Benchmark Electronics by 30.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,585 shares of the technology company’s stock valued at $76,000 after purchasing an additional 847 shares during the last quarter. Advisor Group Inc. raised its position in Benchmark Electronics by 41.5% in the 4th quarter. Advisor Group Inc. now owns 4,620 shares of the technology company’s stock valued at $98,000 after purchasing an additional 1,355 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in Benchmark Electronics in the 4th quarter valued at $103,000. Point72 Hong Kong Ltd raised its position in Benchmark Electronics by 340.3% in the 3rd quarter. Point72 Hong Kong Ltd now owns 6,340 shares of the technology company’s stock valued at $148,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Benchmark Electronics by 68.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,832 shares of the technology company’s stock valued at $160,000 after purchasing an additional 2,774 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.
Benchmark Electronics Company Profile
Benchmark Electronics, Inc, together with its subsidiaries, provides engineering services, integrated technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company offers engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing, and automation equipment design and build services.
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