Belden (NYSE:BDC) had its target price increased by investment analysts at Stifel Nicolaus from $90.00 to $97.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has an “in-line” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 17.48% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Cross Research downgraded shares of Belden from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. ValuEngine upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Canaccord Genuity restated a “buy” rating and issued a $94.00 price target on shares of Belden in a research report on Friday, December 1st. Zacks Investment Research downgraded shares of Belden from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Guggenheim restated a “buy” rating and issued a $90.00 price target on shares of Belden in a research report on Monday, September 25th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Belden presently has an average rating of “Hold” and an average price target of $89.50.

Shares of Belden (NYSE:BDC) opened at $82.57 on Wednesday. Belden has a one year low of $64.60 and a one year high of $86.85. The company has a market cap of $3,573.81, a P/E ratio of 16.55 and a beta of 2.26. The company has a current ratio of 2.26, a quick ratio of 1.79 and a debt-to-equity ratio of 1.06.

Belden (NYSE:BDC) last released its earnings results on Wednesday, November 1st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate 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 in the prior year, the business earned $1.29 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. equities analysts predict 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 stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 4,967 shares in the company, valued at approximately $391,945.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman John S. Stroup sold 17,227 shares of the stock in a transaction that occurred 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 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. 1.31% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Delphi Management Inc. MA lifted its position in Belden by 44.3% in the 3rd quarter. Delphi Management Inc. MA now owns 25,736 shares of the industrial products company’s stock worth $2,073,000 after buying an additional 7,907 shares in the last quarter. California Public Employees Retirement System lifted its position in Belden by 1.1% in the 3rd quarter. California Public Employees Retirement System now owns 84,642 shares of the industrial products company’s stock worth $6,816,000 after buying an additional 942 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in Belden by 550.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,634 shares of the industrial products company’s stock worth $212,000 after buying an additional 2,229 shares in the last quarter. Janus Henderson Group PLC lifted its position in Belden by 3.6% in the 3rd quarter. Janus Henderson Group PLC now owns 5,072,653 shares of the industrial products company’s stock worth $408,501,000 after buying an additional 174,365 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Belden in the 3rd quarter worth approximately $410,000.

ILLEGAL ACTIVITY WARNING: This piece of content was published by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/12/06/stifel-nicolaus-raises-belden-bdc-price-target-to-97-00.html.

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).

The Fly

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.