Belden (NYSE:BDC) Stock Price Expected to Rise, Benchmark Analyst Says

Belden (NYSE:BDC) had its target price upped by Benchmark from $120.00 to $130.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Benchmark’s price target points to a potential upside of 18.64% from the company’s previous close.

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

Belden Stock Performance

Shares of NYSE:BDC opened at $109.57 on Tuesday. The company’s 50 day moving average price is $105.15 and its two-hundred day moving average price is $109.12. Belden has a 12-month low of $83.18 and a 12-month high of $131.82. The firm has a market cap of $4.33 billion, a PE ratio of 21.15 and a beta of 1.23. The company has a quick ratio of 1.29, a current ratio of 1.93 and a debt-to-equity ratio of 0.96.

Belden (NYSE:BDC) last announced its earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.12. Belden had a net margin of 8.35% and a return on equity of 22.28%. The firm had revenue of $624.86 million for the quarter, compared to analyst estimates of $615.81 million. During the same quarter in the prior year, the business posted $1.24 EPS. The business’s revenue was up 16.6% compared to the same quarter last year. Equities research analysts predict that Belden will post 7.07 earnings per share for the current year.

Insider Buying and Selling at Belden

In other Belden news, SVP Leah Tate sold 231 shares of the firm’s 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 sale, the senior vice president now owns 30,170 shares in the company, valued at $3,428,518.80. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.48% of the company’s stock.

Hedge Funds Weigh In On Belden

Several large investors have recently modified their holdings of the business. FMR LLC raised its stake in shares of Belden by 5.0% during the fourth quarter. FMR LLC now owns 4,710,224 shares of the industrial products company’s stock valued at $530,418,000 after acquiring an additional 223,887 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Belden by 0.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,043,510 shares of the industrial products company’s stock valued at $105,478,000 after acquiring an additional 7,683 shares during the last quarter. Invesco Ltd. raised its stake in shares of Belden by 37.2% during the first quarter. Invesco Ltd. now owns 1,024,497 shares of the industrial products company’s stock valued at $102,706,000 after acquiring an additional 277,782 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Belden by 18.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 821,118 shares of the industrial products company’s stock valued at $82,319,000 after acquiring an additional 125,722 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in shares of Belden by 0.5% during the fourth quarter. Lord Abbett & CO. LLC now owns 711,784 shares of the industrial products company’s stock valued at $80,154,000 after acquiring an additional 3,692 shares during the last quarter. 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.