Benchmark Electronics Inc. (BHE) Hits New 52-Week High at $24.55
Benchmark Electronics Inc. (NYSE:BHE) shares reached a new 52-week high during trading on Monday . The company traded as high as $24.55 and last traded at $24.43, with a volume of 76,923 shares trading hands. The stock had previously closed at $24.21.
A number of research analysts have recently issued reports on the company. Needham & Company LLC reduced their price objective on Benchmark Electronics from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, April 22nd. Zacks Investment Research raised Benchmark Electronics from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a research note on Monday, July 25th. TheStreet raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Monday, July 25th. Finally, B. Riley reaffirmed a “neutral” rating and set a $23.00 price objective on shares of Benchmark Electronics in a research note on Monday, July 25th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $24.00.
The firm has a market cap of $1.18 billion and a P/E ratio of 14.64. The stock has a 50 day moving average of $22.81 and a 200-day moving average of $21.66.
Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by $0.01. The business had revenue of $579 million for the quarter, compared to analyst estimates of $582.89 million. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 EPS. Equities analysts predict that Benchmark Electronics Inc. will post $1.34 EPS for the current fiscal year.
In other Benchmark Electronics news, insider Jon J. King sold 12,774 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $23.57, for a total value of $301,083.18. Following the sale, the insider now owns 40,624 shares in the company, valued at approximately $957,507.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Donald Francis Adam sold 40,000 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $23.46, for a total transaction of $938,400.00. Following the completion of the sale, the chief financial officer now owns 126,513 shares in the company, valued at approximately $2,967,994.98. The disclosure for this sale can be found here.
Other hedge funds recently made changes to their positions in the company. Matarin Capital Management LLC bought a new stake in shares of Benchmark Electronics during the fourth quarter valued at approximately $6,431,000. Bank of Montreal Can boosted its stake in shares of Benchmark Electronics by 442.1% in the fourth quarter. Bank of Montreal Can now owns 147,962 shares of the company’s stock valued at $3,058,000 after buying an additional 120,669 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Benchmark Electronics by 4.2% in the fourth quarter. Rhumbline Advisers now owns 87,552 shares of the company’s stock valued at $1,810,000 after buying an additional 3,520 shares during the last quarter.
Benchmark Electronics, Inc is a provider of integrated electronic manufacturing services. The Company 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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