Belden Inc (NYSE:BDC) Rating Lowered to C+ at TheStreet

Belden Inc (NYSE:BDC) was downgraded by equities research analysts at TheStreet from a “b” rating to a “c+” rating in a report issued on Wednesday, November 1st.

BDC has been the subject of several other research reports. Guggenheim began coverage on Belden in a report on Tuesday, July 11th. They set a “buy” rating and a $90.00 price target for the company. Zacks Investment Research lowered Belden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub raised Belden from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Canaccord Genuity reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Belden in a research note on Friday, August 4th. Finally, Deutsche Bank AG upped their price objective on Belden from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $86.63.

Belden (BDC) remained flat at $$83.62 during trading on Wednesday. 143,830 shares of the company’s stock were exchanged, compared to its average volume of 292,038. The company has a market cap of $3,526.58, a PE ratio of 16.33 and a beta of 2.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.26 and a quick ratio of 1.79. Belden has a 52-week low of $64.60 and a 52-week high of $86.31.

Belden (NYSE:BDC) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $1.49 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $626.05 million. During the same quarter in the prior year, the business earned $1.29 earnings per share. Belden’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities analysts predict that Belden will post 5.52 EPS for the current fiscal year.

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In other news, SVP Paul Keith Turner sold 3,709 shares of the 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 sale, the senior vice president now directly owns 4,967 shares in the company, valued at $391,945.97. The sale was disclosed in a document filed with the SEC, which is available at 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 value of $1,459,988.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,230 shares of company stock worth $1,775,189. Company insiders own 1.31% of the company’s stock.

A number of large investors have recently made changes to their positions in BDC. UBS Asset Management Americas Inc. grew its stake in Belden by 21.0% in the first quarter. UBS Asset Management Americas Inc. now owns 25,877 shares of the industrial products company’s stock worth $1,790,000 after purchasing an additional 4,492 shares in the last quarter. Teachers Advisors LLC grew its stake in Belden by 3.1% in the first quarter. Teachers Advisors LLC now owns 72,017 shares of the industrial products company’s stock worth $4,983,000 after purchasing an additional 2,162 shares in the last quarter. Legal & General Group Plc grew its stake in Belden by 20.9% in the first quarter. Legal & General Group Plc now owns 28,792 shares of the industrial products company’s stock worth $1,992,000 after purchasing an additional 4,980 shares in the last quarter. Vanguard Group Inc. grew its stake in Belden by 5.6% in the first quarter. Vanguard Group Inc. now owns 3,554,054 shares of the industrial products company’s stock worth $245,905,000 after purchasing an additional 189,152 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Belden by 10.4% in the first quarter. Geode Capital Management LLC now owns 329,175 shares of the industrial products company’s stock worth $22,775,000 after purchasing an additional 30,883 shares in the last quarter.

About Belden

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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