Belden Inc (NYSE:BDC) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other research firms have also recently weighed in on BDC. Zacks Investment Research raised Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 price objective for the company in a research report on Tuesday, July 11th. Guggenheim began coverage on Belden in a research report on Tuesday, July 11th. They set a “buy” rating and a $90.00 price objective for the company. CL King began coverage on Belden in a research report on Wednesday, June 21st. They set a “neutral” rating for the company. Finally, Goldman Sachs Group, Inc. (The) began coverage on Belden in a research report on Friday, June 23rd. They set a “buy” rating and a $93.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $83.78.

Shares of Belden (NYSE:BDC) traded down 0.34% during midday trading on Thursday, reaching $75.11. The company’s stock had a trading volume of 220,484 shares. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 28.26 and a beta of 2.30. Belden has a 12 month low of $60.06 and a 12 month high of $81.33. The stock has a 50-day moving average of $75.33 and a 200 day moving average of $72.73.

Belden (NYSE:BDC) last posted its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The company had revenue of $551.40 million during the quarter, compared to analysts’ expectations of $551.14 million. Belden had a return on equity of 18.25% and a net margin of 5.80%. Belden’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. On average, analysts predict that Belden will post $5.26 earnings per share for the current fiscal year.

Belden declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 25th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: This article was first published by American Banking News and is the property of of American Banking News. If you are accessing this article on another publication, it was illegally stolen and republished in violation of US and international trademark and copyright legislation. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/07/20/belden-inc-nysebdc-downgraded-by-valuengine.html.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. RMB Capital Management LLC boosted its position in shares of Belden by 0.3% in the first quarter. RMB Capital Management LLC now owns 17,234 shares of the industrial products company’s stock valued at $1,192,000 after buying an additional 60 shares during the period. State Treasurer State of Michigan boosted its position in shares of Belden by 0.6% in the first quarter. State Treasurer State of Michigan now owns 17,100 shares of the industrial products company’s stock valued at $1,183,000 after buying an additional 100 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of 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 buying an additional 100 shares during the period. Capstone Asset Management Co. boosted its position in shares of 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 buying an additional 140 shares during the period. Finally, Greenwood Capital Associates LLC boosted its position in shares of Belden by 5.3% in the first quarter. Greenwood Capital Associates LLC now owns 2,975 shares of the industrial products company’s stock valued at $206,000 after buying an additional 149 shares during the period.

Belden Company Profile

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Belden (NYSE:BDC)

Receive News & Ratings for Belden Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden Inc and related companies with MarketBeat.com's FREE daily email newsletter.