TheStreet Downgrades Belden Inc (BDC) to C+
Belden Inc (NYSE:BDC) was downgraded by TheStreet from a “b” rating to a “c+” rating in a research report issued on Wednesday.
A number of other research firms also recently commented on BDC. Deutsche Bank AG increased their target price on Belden from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 target price on the stock in a report on Tuesday, July 11th. Canaccord Genuity reaffirmed a “buy” rating and set a $88.00 target price (up previously from $83.00) on shares of Belden in a report on Wednesday, September 13th. Guggenheim reissued a “buy” rating and issued a $90.00 price target on shares of Belden in a report on Monday, September 25th. Finally, ValuEngine downgraded Belden from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Belden presently has a consensus rating of “Buy” and an average target price of $85.88.
Belden (NYSE:BDC) last released its earnings results on Wednesday, November 1st. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.08. Belden had a return on equity of 17.52% and a net margin of 4.03%. The company had revenue of $621.74 million for the quarter, compared to the consensus estimate of $626.05 million. During the same quarter last year, the business posted $1.29 EPS. Belden’s quarterly revenue was up 3.4% compared to the same quarter last year.
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In other Belden news, Chairman John S. Stroup sold 17,227 shares of Belden stock in a transaction on Monday, October 9th. The stock was sold at an average price of $84.75, for a total transaction of $1,459,988.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Paul Keith Turner sold 3,709 shares of Belden stock in a transaction on Friday, September 15th. The shares were sold at an average price of $78.91, for a total value of $292,677.19. Following the sale, the senior vice president now directly owns 4,967 shares in the company, valued at approximately $391,945.97. The disclosure for this sale can be found here. In the last three months, insiders sold 21,230 shares of company stock worth $1,775,189. Company insiders own 1.31% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. bought a new stake in Belden during the 4th quarter valued at $105,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Belden by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 160 shares in the last quarter. James Investment Research Inc. bought a new stake in Belden during the 1st quarter valued at $130,000. Point72 Asia Hong Kong Ltd raised its stake in Belden by 799.6% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,060 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 1,831 shares in the last quarter. Finally, Elkfork Partners LLC bought a new stake in Belden during the 4th quarter valued at $159,000.
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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