Belden (NYSE:BDC) Price Target Raised to $77.00 at Truist Financial

Belden (NYSE:BDCGet Rating) had its price objective increased by investment analysts at Truist Financial from $67.00 to $77.00 in a research report issued to clients and investors on Thursday, The Fly reports. Truist Financial’s target price indicates a potential upside of 14.63% from the company’s previous close.

Several other equities analysts have also recently weighed in on BDC. TheStreet upgraded Belden from a “c+” rating to a “b-” rating in a research note on Thursday, May 26th. Canaccord Genuity Group lifted their target price on Belden from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, May 5th. The Goldman Sachs Group lifted their target price on Belden from $59.00 to $67.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 21st. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Belden currently has an average rating of “Buy” and an average target price of $78.50.

Belden Stock Up 0.0 %

Shares of BDC traded up $0.01 during trading hours on Thursday, reaching $67.17. The stock had a trading volume of 209,129 shares, compared to its average volume of 306,043. Belden has a 12 month low of $47.89 and a 12 month high of $68.87. The firm has a 50-day simple moving average of $57.01 and a 200 day simple moving average of $55.72. The company has a current ratio of 2.39, a quick ratio of 1.71 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 43.06 and a beta of 1.35.

Belden (NYSE:BDCGet Rating) last issued its earnings results on Wednesday, August 3rd. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.17. Belden had a return on equity of 25.14% and a net margin of 2.86%. The company had revenue of $666.60 million for the quarter, compared to analysts’ expectations of $633.68 million. During the same period last year, the business earned $1.21 EPS. Belden’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities research analysts predict that Belden will post 5.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Ashish Chand bought 9,949 shares of Belden stock in a transaction on Friday, June 17th. The stock was acquired at an average price of $50.36 per share, with a total value of $501,031.64. Following the acquisition, the executive vice president now directly owns 55,772 shares of the company’s stock, valued at $2,808,677.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BDC. Point72 Hong Kong Ltd boosted its position in shares of Belden by 88.0% during the 1st quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 241 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in Belden in the 4th quarter worth approximately $59,000. Atlas Capital Advisors LLC bought a new stake in Belden in the 1st quarter worth approximately $99,000. Industrial Alliance Investment Management Inc. bought a new stake in Belden in the 4th quarter worth approximately $102,000. Finally, USA Financial Portformulas Corp bought a new stake in Belden in the 4th quarter worth approximately $124,000. Hedge funds and other institutional investors own 99.58% of the company’s stock.

About Belden

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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.

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