Benchmark Electronics Inc. (BHE) Reaches New 52-Week High at $24.55
Benchmark Electronics Inc. (NYSE:BHE)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $24.55 and last traded at $24.30, with a volume of 66,181 shares trading hands. The stock had previously closed at $24.41.
BHE has been the topic of several research reports. Zacks Investment Research raised Benchmark Electronics from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a research note on Monday, July 25th. Needham & Company LLC increased their target price on Benchmark Electronics from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, July 22nd. TheStreet raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Monday, July 25th. Finally, B. Riley reissued a “neutral” rating and set a $23.00 target price on shares of Benchmark Electronics in a research note on Monday, July 25th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $24.00.
The stock’s 50 day moving average price is $23.50 and its 200-day moving average price is $21.85. The company has a market cap of $1.19 billion and a P/E ratio of 14.73.
Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.01. During the same period last year, the firm earned $0.42 earnings per share. The business earned $579 million during the quarter, compared to the consensus estimate of $582.89 million. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, equities research analysts expect that Benchmark Electronics Inc. will post $1.34 earnings per share for the current fiscal year.
In other Benchmark Electronics news, CFO Donald Francis Adam sold 40,000 shares of the firm’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 transaction, the chief financial officer now owns 126,513 shares of the company’s stock, valued at $2,967,994.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gayla J. Delly sold 25,497 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $24.22, for a total value of $617,537.34. Following the transaction, the chief executive officer now directly owns 276,264 shares of the company’s stock, valued at approximately $6,691,114.08. 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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