Belden Inc (BDC) Upgraded at Zacks Investment Research
Belden Inc (NYSE:BDC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $92.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.13% from the company’s current price.
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. “
Several other research firms have also recently issued reports on BDC. TheStreet cut Belden from a “b” rating to a “c+” rating in a research report on Wednesday. Guggenheim restated a “buy” rating and issued a $90.00 price target on shares of Belden in a research report on Monday, September 25th. Canaccord Genuity restated a “buy” rating and issued a $88.00 price target (up previously from $83.00) on shares of Belden in a research report on Wednesday, September 13th. ValuEngine upgraded Belden from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Finally, Deutsche Bank AG raised their price target on Belden from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Belden currently has a consensus rating of “Buy” and an average target price of $86.63.
Belden (NYSE:BDC) traded down $0.61 during trading hours on Friday, reaching $82.05. The company’s stock had a trading volume of 74,367 shares, compared to its average volume of 227,854. The stock has a market cap of $3.47 billion, a PE ratio of 16.00 and a beta of 2.26.
Belden (NYSE:BDC) last released its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.08. The firm had revenue of $621.74 million during the quarter, compared to analysts’ expectations of $626.05 million. Belden had a return on equity of 17.52% and a net margin of 4.03%. Belden’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 earnings per share. equities analysts anticipate that Belden will post 5.5 earnings per share for the current year.
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In related news, SVP Paul Keith Turner sold 3,709 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $78.91, for a total transaction of $292,677.19. Following the sale, the senior vice president now owns 4,967 shares of the company’s stock, valued at $391,945.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman John S. Stroup sold 17,227 shares of the stock in a transaction on 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. In the last 90 days, insiders sold 21,230 shares of company stock valued at $1,775,189. Company insiders own 1.31% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC acquired a new stake in shares of Belden during the second quarter valued at $369,478,000. Janus Capital Management LLC boosted its stake in shares of Belden by 1.6% during the fourth quarter. Janus Capital Management LLC now owns 4,616,873 shares of the industrial products company’s stock valued at $345,204,000 after acquiring an additional 72,897 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Belden by 0.7% during the second quarter. BlackRock Inc. now owns 4,296,433 shares of the industrial products company’s stock valued at $324,082,000 after acquiring an additional 31,973 shares during the last quarter. Janus Capital Management boosted its stake in shares of Belden by 64.2% during the third quarter. Janus Capital Management now owns 3,846,462 shares of the industrial products company’s stock valued at $179,591,000 after acquiring an additional 1,504,197 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Belden by 0.4% during the second quarter. Vanguard Group Inc. now owns 3,568,140 shares of the industrial products company’s stock valued at $269,145,000 after acquiring an additional 14,086 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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