Belden’s (BDC) “Buy” Rating Reaffirmed at Canaccord Genuity

Belden (NYSE:BDC)‘s stock had its “buy” rating reiterated by analysts at Canaccord Genuity in a note issued to investors on Friday. They currently have a $94.00 price target on the industrial products company’s stock. Canaccord Genuity’s target price points to a potential upside of 11.77% from the company’s current price.

A number of other analysts also recently issued reports on the company. Cross Research downgraded Belden from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research downgraded Belden from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. TheStreet downgraded Belden from a “b” rating to a “c+” rating in a research report on Wednesday, November 1st. Guggenheim reiterated a “buy” rating and set a $90.00 target price on shares of Belden in a research report on Monday, September 25th. Finally, ValuEngine upgraded Belden from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $87.38.

Shares of Belden (NYSE BDC) traded down $0.59 on Friday, reaching $84.10. 386,080 shares of the company’s stock were exchanged, compared to its average volume of 290,755. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.79 and a current ratio of 2.26. Belden has a twelve month low of $64.60 and a twelve month high of $86.85. The stock has a market cap of $3,550.00, a price-to-earnings ratio of 16.85 and a beta of 2.26.

Belden (NYSE:BDC) last announced its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.08. Belden had a net margin of 4.03% and a return on equity of 17.52%. The business had revenue of $621.74 million during the quarter, compared to analyst estimates of $626.05 million. During the same period last year, the firm posted $1.29 EPS. The company’s revenue was up 3.4% on a year-over-year basis. equities research analysts expect that Belden will post 5.52 EPS for the current year.

In other Belden news, SVP Paul Keith Turner sold 3,709 shares of the business’s stock in a transaction that occurred on 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 directly owns 4,967 shares of the company’s stock, valued at $391,945.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John S. Stroup sold 17,227 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was 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 have sold 21,230 shares of company stock valued at $1,775,189 in the last ninety days. Corporate insiders own 1.31% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of BDC. Greenwood Capital Associates LLC grew its holdings in Belden by 0.5% in the 2nd quarter. Greenwood Capital Associates LLC now owns 2,989 shares of the industrial products company’s stock valued at $225,000 after buying an additional 14 shares in the last quarter. Teacher Retirement System of Texas raised its position in Belden by 0.4% in the 2nd 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 in the last quarter. Public Employees Retirement System of Ohio raised its position in Belden by 0.3% in the 2nd 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 in the last quarter. Capstone Asset Management Co. increased its holdings in shares of Belden by 4.2% in the 2nd quarter. Capstone Asset Management Co. now owns 3,469 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 140 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Belden by 10.1% in 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 during the last quarter.

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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).

Analyst Recommendations for Belden (NYSE:BDC)

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