Belden (BDC) Rating Lowered to C+ at TheStreet

Share on StockTwits

Belden (NYSE:BDC) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c+” rating in a research report issued on Thursday.

Several other equities research analysts have also issued reports on BDC. Canaccord Genuity set a $88.00 price target on shares of Belden and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Zacks Investment Research lowered shares of Belden from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Guggenheim restated a “buy” rating and set a $90.00 price target on shares of Belden in a research note on Wednesday, August 1st. ValuEngine upgraded shares of Belden from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, SunTrust Banks lowered shares of Belden from a “buy” rating to a “hold” rating and set a $56.00 price target for the company. in a research note on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $73.40.

Shares of BDC stock traded down $1.35 during trading hours on Thursday, hitting $54.47. 660,699 shares of the company were exchanged, compared to its average volume of 624,387. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 1.08. Belden has a 52-week low of $50.71 and a 52-week high of $87.14. The firm has a market cap of $2.28 billion, a P/E ratio of 10.18 and a beta of 2.41.

Belden (NYSE:BDC) last issued its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.01. Belden had a net margin of 5.83% and a return on equity of 21.28%. The company had revenue of $659.00 million during the quarter, compared to analyst estimates of $679.15 million. During the same quarter last year, the business posted $1.49 EPS. Belden’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts expect that Belden will post 6.09 EPS for the current year.

In other news, SVP Henk Derksen purchased 1,431 shares of the business’s stock in a transaction on Friday, November 2nd. The stock was purchased at an average cost of $53.65 per share, with a total value of $76,773.15. Following the acquisition, the senior vice president now directly owns 38,857 shares in the company, valued at $2,084,678.05. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman John S. Stroup purchased 9,250 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was purchased at an average cost of $53.44 per share, with a total value of $494,320.00. Following the completion of the acquisition, the chairman now owns 21,713 shares in the company, valued at $1,160,342.72. The disclosure for this purchase can be found here. 1.34% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG raised its position in Belden by 265.2% in the 1st quarter. UBS Group AG now owns 4,338 shares of the industrial products company’s stock worth $299,000 after purchasing an additional 3,150 shares during the period. Legal & General Group Plc increased its position in shares of Belden by 9.0% in the first quarter. Legal & General Group Plc now owns 44,133 shares of the industrial products company’s stock valued at $3,042,000 after acquiring an additional 3,657 shares during the period. Principal Financial Group Inc. increased its position in shares of Belden by 2.1% in the first quarter. Principal Financial Group Inc. now owns 184,830 shares of the industrial products company’s stock valued at $12,743,000 after acquiring an additional 3,841 shares during the period. Peregrine Capital Management LLC purchased a new position in shares of Belden in the second quarter valued at about $5,000,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Belden in the second quarter valued at about $225,000.

About Belden

Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.

Further Reading: Hedge Funds Explained

Analyst Recommendations for Belden (NYSE:BDC)

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.

Leave a Reply