Belden (NYSE:BDC) Upgraded at ValuEngine

ValuEngine upgraded shares of Belden (NYSE:BDC) from a strong sell rating to a sell rating in a research note released on Wednesday, May 1st, ValuEngine reports.

BDC has been the topic of several other reports. TheStreet cut shares of Belden from a b- rating to a c+ rating in a research report on Friday, March 29th. Longbow Research cut shares of Belden from a buy rating to a neutral rating and set a $63.27 price objective on the stock. in a research report on Thursday, February 21st. Zacks Investment Research upgraded shares of Belden from a sell rating to a hold rating in a research report on Tuesday, February 12th. SunTrust Banks upped their target price on Belden to $70.00 and gave the stock a hold rating in a research note on Thursday, February 21st. Finally, Canaccord Genuity upped their target price on Belden from $60.00 to $70.00 and gave the stock a buy rating in a research note on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $69.18.

Shares of BDC opened at $55.04 on Wednesday. Belden has a twelve month low of $37.79 and a twelve month high of $76.39. The stock has a market cap of $2.26 billion, a PE ratio of 9.08 and a beta of 2.56. The company has a current ratio of 1.97, a quick ratio of 1.40 and a debt-to-equity ratio of 1.01.

Belden (NYSE:BDC) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.10. The firm had revenue of $587.18 million for the quarter, compared to analysts’ expectations of $577.17 million. Belden had a return on equity of 20.17% and a net margin of 7.15%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 earnings per share. As a group, sell-side analysts predict that Belden will post 5.86 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in BDC. Millennium Management LLC purchased a new stake in shares of Belden during the fourth quarter valued at approximately $15,931,000. LSV Asset Management boosted its stake in shares of Belden by 194.2% during the first quarter. LSV Asset Management now owns 512,400 shares of the industrial products company’s stock valued at $27,515,000 after purchasing an additional 338,236 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in shares of Belden by 13.8% during the first quarter. ArrowMark Colorado Holdings LLC now owns 1,614,637 shares of the industrial products company’s stock valued at $86,706,000 after purchasing an additional 195,890 shares during the period. American Century Companies Inc. boosted its stake in shares of Belden by 37.6% during the fourth quarter. American Century Companies Inc. now owns 650,706 shares of the industrial products company’s stock valued at $27,180,000 after purchasing an additional 177,716 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Belden by 25.7% during the fourth quarter. Lord Abbett & CO. LLC now owns 742,277 shares of the industrial products company’s stock valued at $31,005,000 after purchasing an additional 151,929 shares during the period.

About Belden

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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