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

Belden (NYSE:BDC) had its target price lifted by research analysts at Benchmark from $120.00 to $130.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Benchmark’s price objective would suggest a potential upside of 18.58% from the company’s current price.

BDC has been the subject of several other research reports. Wall Street Zen downgraded Belden from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 14th. The Goldman Sachs Group dropped their price objective on shares of Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $128.20.

Belden Stock Up 2.1%

Shares of NYSE:BDC opened at $109.63 on Tuesday. Belden has a 1 year low of $83.18 and a 1 year high of $131.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The business’s 50-day moving average is $104.71 and its 200-day moving average is $109.11. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 22.79 and a beta of 1.23.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.12. Belden had a net margin of 8.06% and a return on equity of 21.42%. The company had revenue of $624.86 million during the quarter, compared to analyst estimates of $615.81 million. During the same quarter in the previous year, the business posted $1.24 EPS. Belden’s revenue for the quarter 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

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

Institutional Trading of Belden

Large investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new position in shares of Belden in the 4th quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in Belden in the first quarter valued at about $35,000. Quarry LP grew its stake in shares of Belden by 208.7% during the 4th quarter. Quarry LP now owns 392 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 265 shares during the period. GAMMA Investing LLC increased 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 valued at $45,000 after purchasing an additional 115 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of Belden in the 1st quarter worth approximately $47,000. 98.75% of the stock is owned by institutional investors.

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.