General Cable Corporation (NYSE:BGC) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday.

General Cable Corporation (NYSE BGC) traded down 1.57% during trading on Friday, hitting $18.75. The stock had a trading volume of 527,566 shares. The company has a 50-day moving average price of $17.10 and a 200-day moving average price of $17.34. The company’s market cap is $932.89 million. General Cable Corporation has a 52-week low of $11.70 and a 52-week high of $20.80.

General Cable Corporation (NYSE:BGC) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.12. General Cable Corporation had a negative net margin of 4.80% and a positive return on equity of 13.47%. The business had revenue of $943.10 million for the quarter. Equities research analysts forecast that General Cable Corporation will post $1.00 EPS for the current year.

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Several large investors have recently modified their holdings of BGC. Vanguard Group Inc. increased its stake in shares of General Cable Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 8,286,764 shares of the industrial products company’s stock worth $148,748,000 after buying an additional 433,933 shares during the last quarter. BlackRock Inc. increased its stake in shares of General Cable Corporation by 60,712.5% in the first quarter. BlackRock Inc. now owns 6,002,799 shares of the industrial products company’s stock worth $107,750,000 after buying an additional 5,992,928 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of General Cable Corporation by 5.8% in the first quarter. Victory Capital Management Inc. now owns 2,984,999 shares of the industrial products company’s stock worth $53,580,000 after buying an additional 164,813 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of General Cable Corporation by 2.0% in the first quarter. Pzena Investment Management LLC now owns 1,726,761 shares of the industrial products company’s stock worth $30,995,000 after buying an additional 34,611 shares during the last quarter. Finally, Royce & Associates LP increased its stake in shares of General Cable Corporation by 7.5% in the first quarter. Royce & Associates LP now owns 1,710,357 shares of the industrial products company’s stock worth $30,701,000 after buying an additional 119,946 shares during the last quarter. 99.39% of the stock is owned by hedge funds and other institutional investors.

About General Cable Corporation

General Cable Corporation is engaged in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for use in the energy, industrial, construction, specialty and communications markets. The Company’s segments include North America, Europe, Latin America, and Africa/Asia Pacific.

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