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

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

Several other equities analysts have also commented on the stock. Truist Financial increased their price objective on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $130.00 price target on shares of Belden in a research report on Monday. Finally, StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $130.25.

Belden Stock Performance

Shares of BDC stock traded down $0.52 on Tuesday, reaching $113.53. The stock had a trading volume of 53,901 shares, compared to its average volume of 246,195. The stock has a market cap of $4.58 billion, a P/E ratio of 23.62 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 has a 1 year low of $78.64 and a 1 year high of $131.82. The company has a 50 day simple moving average of $117.04 and a 200 day simple moving average of $113.30.

Belden (NYSE:BDC) last released its quarterly earnings data 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%. Equities research analysts expect that Belden will post 7.76 EPS for the current year.

Institutional Trading of Belden

Several institutional investors and hedge funds have recently made changes to their positions in BDC. GAMMA Investing LLC grew its stake in Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Belden in the 3rd quarter valued at about $33,000. First Horizon Advisors Inc. grew its position in shares of Belden by 97.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after buying an additional 209 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Belden by 31.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 199 shares during the last quarter. Finally, Principal Securities Inc. boosted its stake in Belden by 9.6% in the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 105 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

About Belden

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.