Benchmark Electronics (NYSE:BHE) Stock Rating Cut to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded Benchmark Electronics from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $88.50.
• Benchmark exceeded quarterly expectations, reporting $0.84 in EPS versus $0.79 expected and $810.9 million in revenue, up 19.1% year over year.
• The stock opened at $68.38, below its $75.55 50-day moving average, while institutional investors own a substantial 92.29% of outstanding shares.

Benchmark Electronics (NYSE:BHE - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the company. Needham & Company LLC assumed coverage on Benchmark Electronics in a report on Friday, October 23rd. They set a "buy" rating and a $85.00 price target on the stock. Zacks Research raised Benchmark Electronics to a "hold" rating in a research note on Monday, October 5th. Finally, Weiss Ratings downgraded Benchmark Electronics from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.50.

Benchmark Electronics Price Performance

NYSE BHE opened at $68.38 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. Benchmark Electronics has a 1 year low of $41.69 and a 1 year high of $100.41. The company has a market cap of $2.45 billion, a PE ratio of 30.77, a PEG ratio of 1.37 and a beta of 1.25. The stock's 50-day moving average price is $75.55 and its two-hundred day moving average price is $72.28.

Benchmark Electronics (NYSE:BHE - Get Free Report) last announced its earnings results on Wednesday, October 28th. The technology company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.79 by $0.05. The company had revenue of $810.90 million during the quarter, compared to analysts' expectations of $776.65 million. Benchmark Electronics had a net margin of 1.90% and a return on equity of 7.71%. The business's revenue for the quarter was up 19.1% on a year-over-year basis. During the same period last year, the company posted $0.62 earnings per share. On average, analysts predict that Benchmark Electronics will post 2.40 EPS for the current year.

Institutional Investors Weigh In On Benchmark Electronics

Institutional investors have recently modified their holdings of the stock. Pictet Asset Management Holding SA boosted its holdings in Benchmark Electronics by 4.6% during the first quarter. Pictet Asset Management Holding SA now owns 5,097 shares of the technology company's stock valued at $286,000 after purchasing an additional 226 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Benchmark Electronics by 69.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 609 shares of the technology company's stock worth $26,000 after buying an additional 250 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Benchmark Electronics by 9.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,243 shares of the technology company's stock worth $352,000 after buying an additional 378 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Benchmark Electronics by 107.6% in the 3rd quarter. Sterling Capital Management LLC now owns 930 shares of the technology company's stock worth $77,000 after buying an additional 482 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Benchmark Electronics by 3.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 15,943 shares of the technology company's stock worth $894,000 after buying an additional 507 shares during the period. Institutional investors and hedge funds own 92.29% of the company's stock.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc is a provider of integrated electronics manufacturing and engineering services. The company helps original equipment manufacturers design, develop, test, manufacture and support complex electronic products and systems.

Its services include product design and engineering, prototyping, printed circuit board assembly, systems integration, precision machining, testing, supply chain management, and aftermarket support. Benchmark serves customers in industries such as aerospace and defense, medical technology, industrial equipment, semiconductor capital equipment, and advanced computing.

Headquartered in Tempe, Arizona, Benchmark operates manufacturing and engineering facilities across North America, Europe and Asia.

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