Belden (NYSE:BDC) was upgraded by stock analysts at ValuEngine from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Thursday, ValuEngine reports.
Other equities research analysts have also issued reports about the stock. SunTrust Banks boosted their target price on shares of Belden from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Zacks Investment Research downgraded shares of Belden from a "buy" rating to a "hold" rating in a research report on Wednesday. Loop Capital initiated coverage on shares of Belden in a research note on Monday, April 27th. They issued a "buy" rating and a $44.00 target price for the company. Stifel Nicolaus lowered shares of Belden from a "buy" rating to a "hold" rating and reduced their price target for the company from $60.00 to $34.50 in a research report on Tuesday, April 21st. Finally, Goldman Sachs Group lowered shares of Belden from a "neutral" rating to a "sell" rating and set a $30.00 target price for the company. in a research report on Monday, April 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company's stock. Belden currently has an average rating of "Hold" and an average target price of $41.81.
Shares of NYSE:BDC opened at $32.55 on Thursday. The firm has a 50 day moving average of $33.22 and a 200-day moving average of $41.33. The stock has a market capitalization of $1.42 billion, a PE ratio of -3.48 and a beta of 1.78. The company has a current ratio of 2.07, a quick ratio of 1.63 and a debt-to-equity ratio of 1.45. Belden has a 12 month low of $25.54 and a 12 month high of $58.98.
Belden (NYSE:BDC) last announced its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. The company had revenue of $463.53 million for the quarter, compared to analyst estimates of $462.50 million. Belden had a negative net margin of 18.20% and a positive return on equity of 18.10%. The firm's revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 EPS. On average, research analysts predict that Belden will post 2.84 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Ancora Advisors LLC purchased a new stake in shares of Belden in the fourth quarter worth about $30,000. Parkside Financial Bank & Trust lifted its holdings in shares of Belden by 28.1% in the first quarter. Parkside Financial Bank & Trust now owns 1,478 shares of the industrial products company's stock worth $53,000 after buying an additional 324 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Belden in the first quarter worth about $106,000. Howe & Rusling Inc. lifted its holdings in shares of Belden by 11.3% in the first quarter. Howe & Rusling Inc. now owns 4,028 shares of the industrial products company's stock worth $145,000 after buying an additional 409 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Belden by 11.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,435 shares of the industrial products company's stock worth $189,000 after buying an additional 345 shares in the last quarter.
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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To view ValuEngine's full report, visit ValuEngine's official website.
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