Zacks Investment Research upgraded shares of Belden Inc (NYSE:BDC) from a hold rating to a buy rating in a report published on Friday. They currently have $92.00 target price on the industrial products company’s stock.
According to Zacks, “Belden Inc is engaged in the design, manufacture and retail of cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. The Company’s products find its application in the industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, Europe, and Asia, and a market presence in nearly every region of the world. Belden Inc is based in St. Louis, Missouri. “
Other equities research analysts also recently issued research reports about the company. Canaccord Genuity reissued a buy rating and set a $83.00 price target on shares of Belden in a research report on Friday, August 4th. Deutsche Bank AG upped their target price on Belden from $85.00 to $92.00 and gave the stock a buy rating in a research report on Thursday, August 3rd. Guggenheim began coverage on Belden in a research report on Tuesday, July 11th. They issued a buy rating and a $90.00 target price for the company. ValuEngine raised Belden from a hold rating to a buy rating in a research report on Monday, September 11th. Finally, TheStreet downgraded Belden from a b rating to a c+ rating in a research report on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $86.63.
Belden (BDC) traded up $0.15 during mid-day trading on Friday, reaching $82.18. The company’s stock had a trading volume of 27,033 shares, compared to its average volume of 229,938. Belden has a 1 year low of $60.06 and a 1 year high of $86.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.79 and a current ratio of 2.26. The stock has a market capitalization of $3,469.81, a P/E ratio of 16.02 and a beta of 2.26.
Belden (NYSE:BDC) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.08. Belden had a return on equity of 17.52% and a net margin of 4.03%. The firm had revenue of $621.74 million during the quarter, compared to the consensus estimate of $626.05 million. During the same quarter in the previous year, the business earned $1.29 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. equities analysts predict that Belden will post 5.52 earnings per share for the current fiscal year.
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In related news, SVP Paul Keith Turner sold 3,709 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $78.91, for a total value of $292,677.19. Following the completion of the transaction, the senior vice president now owns 4,967 shares of the company’s stock, valued at $391,945.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John S. Stroup sold 17,227 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $84.75, for a total value of $1,459,988.25. The disclosure for this sale can be found here. Insiders sold 21,230 shares of company stock valued at $1,775,189 in the last three months. 1.31% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Greenwood Capital Associates LLC boosted its holdings in Belden by 0.5% in the second quarter. Greenwood Capital Associates LLC now owns 2,989 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 14 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Belden by 0.4% in the second quarter. Teacher Retirement System of Texas now owns 3,372 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 15 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Belden by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 26,132 shares of the industrial products company’s stock valued at $1,971,000 after purchasing an additional 90 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Belden by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 24,210 shares of the industrial products company’s stock valued at $1,803,000 after purchasing an additional 100 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its holdings in Belden by 4.2% in the second quarter. Capstone Asset Management Co. now owns 3,469 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 140 shares during the last quarter.
Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).
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