Benchmark Electronics Inc. (NYSE: BHE) Downgraded at Zacks Investment Research

Analysts at Zacks Investment Research downgraded shares of Benchmark Electronics Inc. (NYSE: BHE) from Strong-Buy to Hold in a research note to investors today. With a rating of Hold on the shares, Benchmark Electronics Inc. has a 52-week high of $24.82. A number of other analysts have commented on the company recently, and Benchmark Electronics Inc. has earned a consensus one-year price target of $24.20, a decrease compared to the opening price of $24.50. Downgrades happen when analysts feel that the future prospects for the security have dropped from the original recommendation, usually because of a material and major change in the company’s procedures, future direction or industry.

The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end

On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.

The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.

S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.

Yesterday Benchmark Electronics Inc. (NYSE: BHE) shares last traded at $24.74, which represents a spike of $0.43 from the previous closing price. Opening at $24.50, they varied from $24.45 and $24.82 throughout the day.

Benchmark Electronics Inc. (NYSE: BHE) currently has a market cap of 1.21B.

206,874 shares crossed the trading desk yesterday, below the average, out of a total float 48,540,000. Swing traders often use upticks in trading volume to determine large volume growth or circulation by institutional investors, so look for trading volume to pick up in the coming days.

As with all potential breakouts, investors watch for volume to be at least 40%-50% greater than normal on the breakout to show that fund managers and other professional investors are jumping in.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors retain substantial teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you’re considering.

By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.

With that in mind, Benchmark Electronics Inc. (NYSE: BHE) now has a 50-day MA of $24.16 and 200-day MA of $22.15. It has traded in a 52-week range between $18.36 – 24.82 and today’s last price is 0.00% lower than the 52 week high of $24.82.

Earnings growth is a crucial factor to consider when investing in stocks and investors seek companies that have raised their earnings at least 25% or more over 3 consecutive years.

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