Belden (NYSE:BDC) Price Target Raised to $130.00

Belden (NYSE:BDC - Get Free Report) had its price objective increased by equities researchers at Benchmark from $120.00 to $130.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the industrial products company's stock. Benchmark's target price suggests a potential upside of 18.27% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Belden from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 14th. The Goldman Sachs Group lowered their target price on shares of Belden from $139.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Belden has a consensus rating of "Buy" and a consensus price target of $128.20.

Belden Trading Up 0.4%

NYSE BDC traded up $0.44 on Tuesday, reaching $109.92. 454,811 shares of the company were exchanged, compared to its average volume of 274,313. The company has a current ratio of 1.93, a quick ratio of 1.29 and a debt-to-equity ratio of 0.96. The business's fifty day moving average price is $105.50 and its 200 day moving average price is $109.02. The stock has a market capitalization of $4.34 billion, a P/E ratio of 21.22 and a beta of 1.23. Belden has a fifty-two week low of $83.18 and a fifty-two week high of $131.82.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.48 by $0.12. Belden had a return on equity of 22.28% and a net margin of 8.35%. The business had revenue of $624.86 million for the quarter, compared to analyst estimates of $615.81 million. During the same quarter in the previous year, the firm earned $1.24 EPS. The company's quarterly revenue was up 16.6% compared to the same quarter last year. Analysts forecast that Belden will post 7.07 earnings per share for the current year.

Insider Activity at Belden

In related news, SVP Leah Tate sold 231 shares of Belden stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total value of $26,250.84. Following the completion of the transaction, the senior vice president now owns 30,170 shares in the company, valued at $3,428,518.80. The trade was a 0.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Belden

Several large investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of Belden during the 4th quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in Belden in the first quarter valued at approximately $35,000. Quarry LP raised its holdings in Belden by 208.7% during the fourth quarter. Quarry LP now owns 392 shares of the industrial products company's stock worth $44,000 after purchasing an additional 265 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Belden by 34.7% during the 1st quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company's stock worth $45,000 after buying an additional 115 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Belden in the 1st quarter valued at $47,000. Hedge funds and other institutional investors own 98.75% of the company's stock.

About Belden

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications 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 to the home, and building automation.