Belden (NYSE:BDC) Raised to B- at TheStreet

Belden (NYSE:BDCGet Rating) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b-” rating in a report released on Thursday, TheStreetRatingsTable reports.

A number of other equities analysts also recently commented on the stock. StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 21st. Truist Financial dropped their target price on shares of Belden from $86.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, April 8th. Zacks Investment Research upgraded shares of Belden from a “sell” rating to a “hold” rating in a research report on Thursday, May 5th. Canaccord Genuity Group increased their target price on shares of Belden from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, May 5th. Finally, The Goldman Sachs Group upgraded shares of Belden from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $57.00 to $55.00 in a research report on Tuesday, April 19th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Belden presently has a consensus rating of “Buy” and an average target price of $72.20.

NYSE:BDC opened at $57.50 on Thursday. The company has a 50-day moving average of $53.69 and a 200-day moving average of $57.99. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 36.86 and a beta of 1.33. Belden has a 52 week low of $45.31 and a 52 week high of $68.87. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.71 and a current ratio of 2.39.

Belden (NYSE:BDCGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.22. The company had revenue of $610.40 million during the quarter, compared to the consensus estimate of $572.62 million. Belden had a net margin of 2.86% and a return on equity of 25.14%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the firm earned $0.94 EPS. Sell-side analysts forecast that Belden will post 5.65 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of BDC. First Trust Advisors LP increased its position in Belden by 195.4% in the 1st quarter. First Trust Advisors LP now owns 41,284 shares of the industrial products company’s stock valued at $2,217,000 after acquiring an additional 27,308 shares in the last quarter. Barclays PLC boosted its stake in shares of Belden by 28.0% in the 3rd quarter. Barclays PLC now owns 39,702 shares of the industrial products company’s stock valued at $2,312,000 after purchasing an additional 8,674 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Belden by 21.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 7,201 shares of the industrial products company’s stock valued at $420,000 after purchasing an additional 1,257 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Belden by 60.6% in the 3rd quarter. Citigroup Inc. now owns 8,567 shares of the industrial products company’s stock valued at $499,000 after purchasing an additional 3,234 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in shares of Belden in the 3rd quarter valued at about $421,000. Hedge funds and other institutional investors own 99.58% of the company’s stock.

About Belden (Get Rating)

Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber, and home and building automation.

Read More

Receive News & Ratings for Belden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden and related companies with MarketBeat.com's FREE daily email newsletter.