Benchmark Electronics Inc. (BHE) Reaches New 12-Month High at $24.55
Benchmark Electronics Inc. (NYSE:BHE)’s share price reached a new 52-week high on Friday . The stock traded as high as $24.55 and last traded at $24.30, with a volume of 66,181 shares changing hands. The stock had previously closed at $24.41.
A number of equities analysts have weighed in on BHE shares. Zacks Investment Research upgraded shares of Benchmark Electronics from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a research report on Monday, July 25th. Needham & Company LLC raised their price objective on shares of Benchmark Electronics from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, July 22nd. TheStreet lowered shares of Benchmark Electronics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 28th. Finally, B. Riley restated a “neutral” rating and issued a $23.00 price objective on shares of Benchmark Electronics in a research report on Monday, July 25th. Two research 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 stock currently has a consensus rating of “Buy” and an average target price of $24.00.
The stock has a market cap of $1.18 billion and a P/E ratio of 14.657. The company has a 50-day moving average of $23.42 and a 200 day moving average of $21.82.
Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. During the same period in the previous year, the business posted $0.42 EPS. The company earned $579 million during the quarter, compared to the consensus estimate of $582.89 million. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, analysts anticipate that Benchmark Electronics Inc. will post $1.34 EPS for the current year.
In related news, CEO Gayla J. Delly sold 25,497 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $24.22, for a total transaction of $617,537.34. Following the completion of the transaction, the chief executive officer now directly owns 276,264 shares in the company, valued at approximately $6,691,114.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jon J. King sold 12,774 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 40,624 shares of the company’s stock, valued at $957,507.68. The disclosure for this sale can be found here.
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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