Loop Capital Lowers Belden (NYSE:BDC) Price Target to $145.00

Belden (NYSE:BDC) had its price objective lowered by analysts at Loop Capital from $155.00 to $145.00 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. Loop Capital’s target price points to a potential upside of 28.72% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. Truist Financial raised their price target on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Benchmark reiterated a “buy” rating and set a $130.00 target price on shares of Belden in a research report on Monday. Four equities research 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.com, the company presently has an average rating of “Buy” and a consensus target price of $130.25.

Belden Price Performance

BDC stock opened at $112.65 on Tuesday. Belden has a fifty-two week low of $78.64 and a fifty-two week high of $131.82. The company’s 50 day moving average price is $116.63 and its 200 day moving average price is $113.44. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 23.42 and a beta of 1.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.43 and a current ratio of 1.92.

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

Insider Transactions at Belden

In related news, SVP Leah Tate sold 2,400 shares of Belden stock in a transaction on Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the transaction, the senior vice president now owns 23,243 shares in the company, valued at approximately $2,667,599.11. This trade represents a 9.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.59% of the company’s stock.

Hedge Funds Weigh In On Belden

Several hedge funds and other institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in shares of Belden in the third quarter valued at $608,000. GSA Capital Partners LLP bought a new stake in shares of Belden in the 3rd quarter worth approximately $687,000. Citigroup Inc. boosted its holdings in shares of Belden by 157.5% during the third quarter. Citigroup Inc. now owns 32,453 shares of the industrial products company’s stock valued at $3,801,000 after acquiring an additional 19,849 shares during the period. Geode Capital Management LLC grew its position in Belden by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock worth $112,580,000 after purchasing an additional 5,727 shares during the last quarter. Finally, Foster & Motley Inc. grew its holdings in Belden by 25.3% in the 3rd quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company’s stock worth $4,530,000 after buying an additional 7,819 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

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.