Truist Financial Increases Belden (NYSE:BDC) Price Target to $98.00

Belden (NYSE:BDCGet Free Report) had its price objective increased by equities researchers at Truist Financial from $89.00 to $98.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price suggests a potential upside of 17.75% from the company’s previous close.

A number of other brokerages have also commented on BDC. The Goldman Sachs Group decreased their price objective on shares of Belden from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Fox Advisors lowered shares of Belden from an “overweight” rating to an “equal weight” rating in a report on Friday, October 13th. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Wednesday, December 13th. Finally, Loop Capital cut their target price on shares of Belden from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, October 16th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Belden has a consensus rating of “Moderate Buy” and a consensus price target of $103.40.

Check Out Our Latest Stock Analysis on BDC

Belden Stock Down 1.2 %

BDC opened at $83.23 on Friday. The firm’s 50-day simple moving average is $74.90 and its 200-day simple moving average is $80.47. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.95 and a current ratio of 2.30. Belden has a twelve month low of $60.54 and a twelve month high of $99.13. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 14.70 and a beta of 1.02.

Belden (NYSE:BDCGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.34. Belden had a net margin of 9.66% and a return on equity of 25.11%. The firm had revenue of $551.24 million for the quarter, compared to analyst estimates of $522.06 million. During the same quarter in the prior year, the firm earned $1.75 EPS. The company’s revenue was down 16.4% on a year-over-year basis. Equities research analysts anticipate that Belden will post 5.33 EPS for the current fiscal year.

Insider Transactions at Belden

In other Belden news, SVP Leah Tate purchased 1,550 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $64.53 per share, with a total value of $100,021.50. Following the purchase, the senior vice president now directly owns 3,360 shares of the company’s stock, valued at $216,820.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Belden

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Inspire Investing LLC grew its stake in shares of Belden by 3.6% in the second quarter. Inspire Investing LLC now owns 3,273 shares of the industrial products company’s stock valued at $313,000 after buying an additional 115 shares in the last quarter. Atlas Capital Advisors LLC lifted its holdings in Belden by 2.3% during the 4th quarter. Atlas Capital Advisors LLC now owns 5,346 shares of the industrial products company’s stock valued at $384,000 after purchasing an additional 121 shares during the last quarter. Howe & Rusling Inc. lifted its holdings in Belden by 4.3% during the 2nd quarter. Howe & Rusling Inc. now owns 3,090 shares of the industrial products company’s stock valued at $296,000 after purchasing an additional 127 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Belden by 14.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,116 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 141 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Belden by 3.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,301 shares of the industrial products company’s stock valued at $415,000 after purchasing an additional 158 shares during the last quarter. 99.16% of the stock is owned by institutional investors.

About Belden

(Get Free Report)

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 Automation 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.

Recommended Stories

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.