Benchmark Electronics (NYSE:BHE) Stock Rating Lowered by Sidoti

Benchmark Electronics (NYSE:BHE) was downgraded by Sidoti from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. They currently have a $33.00 target price on the technology company’s stock. Sidoti’s price target would suggest a potential upside of 9.24% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. StockNews.com cut Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Needham & Company LLC upped their price objective on Benchmark Electronics from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st.

Benchmark Electronics Price Performance

BHE opened at $30.21 on Monday. Benchmark Electronics has a 12-month low of $20.58 and a 12-month high of $31.75. The company has a current ratio of 2.29, a quick ratio of 1.33 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $30.01 and its 200-day simple moving average is $27.70. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 16.78 and a beta of 1.02.

Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Benchmark Electronics had a return on equity of 6.95% and a net margin of 2.27%. The business had revenue of $691.35 million for the quarter.

Institutional Investors Weigh In On Benchmark Electronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHE. SG Americas Securities LLC purchased a new stake in Benchmark Electronics in the third quarter valued at about $499,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Benchmark Electronics by 39.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,194 shares of the technology company’s stock valued at $223,000 after buying an additional 2,607 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Benchmark Electronics by 4.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,810 shares of the technology company’s stock valued at $384,000 after buying an additional 739 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in Benchmark Electronics in the third quarter valued at about $522,000. Finally, Barclays PLC raised its stake in Benchmark Electronics by 10.7% in the third quarter. Barclays PLC now owns 61,398 shares of the technology company’s stock valued at $1,491,000 after buying an additional 5,912 shares during the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

Benchmark Electronics Company Profile

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.