Belden (NYSE:BDC) Given New $145.00 Price Target at Loop Capital

Belden (NYSE:BDC) had its price target decreased by equities research analysts at Loop Capital from $155.00 to $145.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Loop Capital’s price objective points to a potential upside of 27.72% from the stock’s current price.

A number of other research analysts have also issued reports on BDC. Truist Financial increased their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Benchmark reissued a “buy” rating and issued a $130.00 target price on shares of Belden in a research note on Monday. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $130.25.

Belden Stock Performance

BDC stock traded down $0.52 during trading on Tuesday, hitting $113.53. 53,901 shares of the company traded hands, compared to its average volume of 246,195. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.43. Belden has a 1 year low of $78.64 and a 1 year high of $131.82. The stock’s 50-day simple moving average is $117.04 and its 200 day simple moving average is $113.30. The company has a market cap of $4.58 billion, a PE ratio of 23.62 and a beta of 1.08.

Belden (NYSE:BDC) last posted its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. On average, equities analysts expect that Belden will post 7.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Belden

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. increased its position in shares of Belden by 9.6% during the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 105 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its stake in shares of Belden by 5.4% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,277 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 116 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Belden by 72.2% in the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 117 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Belden by 1.1% during the 4th quarter. Arizona State Retirement System now owns 11,843 shares of the industrial products company’s stock worth $1,334,000 after purchasing an additional 129 shares during the period. Finally, Verdence Capital Advisors LLC increased its holdings in Belden by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company’s stock valued at $406,000 after purchasing an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Company Profile

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.