Belden (NYSE:BDC) Stock Rating Lowered by ValuEngine

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ValuEngine cut shares of Belden (NYSE:BDC) from a sell rating to a strong sell rating in a research report report published on Friday, November 1st, ValuEngine reports.

Several other analysts also recently issued reports on the company. Zacks Investment Research upgraded Belden from a sell rating to a hold rating in a research report on Tuesday, October 1st. SunTrust Banks reduced their price objective on Belden to $54.00 and set a hold rating on the stock in a research report on Thursday, August 1st. Finally, Stifel Nicolaus reduced their price objective on Belden from $70.00 to $57.00 and set a buy rating on the stock in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Belden currently has an average rating of Hold and an average price target of $60.18.

BDC traded up $0.24 during trading on Friday, reaching $52.88. 181,146 shares of the stock were exchanged, compared to its average volume of 407,688. The business’s 50 day moving average price is $52.71 and its two-hundred day moving average price is $53.11. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.94 and a quick ratio of 1.44. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 8.73 and a beta of 2.36. Belden has a 1 year low of $37.79 and a 1 year high of $64.33.

Belden (NYSE:BDC) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.18 EPS for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.23). Belden had a positive return on equity of 18.09% and a negative net margin of 7.44%. The firm had revenue of $620.32 million for the quarter, compared to analysts’ expectations of $632.68 million. During the same quarter in the previous year, the firm posted $1.72 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts anticipate that Belden will post 4.41 EPS for the current year.

In related news, insider Biddle Neil acquired 300,000 shares of Belden stock in a transaction dated Friday, October 25th. The shares were acquired at an average cost of $0.10 per share, for a total transaction of $30,000.00. Insiders bought 1,556,961 shares of company stock worth $150,668 over the last 90 days. Company insiders own 1.52% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BDC. Janus Henderson Group PLC lifted its position in Belden by 6.5% during the second quarter. Janus Henderson Group PLC now owns 5,537,725 shares of the industrial products company’s stock worth $329,882,000 after buying an additional 338,127 shares during the period. LSV Asset Management lifted its position in Belden by 56.0% during the second quarter. LSV Asset Management now owns 799,500 shares of the industrial products company’s stock worth $47,626,000 after buying an additional 287,100 shares during the period. Renaissance Technologies LLC lifted its position in Belden by 1,386.3% during the second quarter. Renaissance Technologies LLC now owns 261,593 shares of the industrial products company’s stock worth $15,583,000 after buying an additional 243,993 shares during the period. AQR Capital Management LLC lifted its position in Belden by 3,548.0% during the second quarter. AQR Capital Management LLC now owns 207,900 shares of the industrial products company’s stock worth $12,156,000 after buying an additional 202,201 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in Belden by 899.2% during the second quarter. Nuveen Asset Management LLC now owns 168,795 shares of the industrial products company’s stock worth $10,055,000 after buying an additional 151,902 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Belden Company Profile

Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.

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Analyst Recommendations for Belden (NYSE:BDC)

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