Belden (BDC) Upgraded to Sell at ValuEngine

Belden (NYSE:BDC) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

BDC has been the subject of a number of other research reports. Guggenheim reaffirmed a “buy” rating and set a $77.00 target price on shares of Belden in a report on Wednesday, October 31st. Goldman Sachs Group lowered shares of Belden from a “buy” rating to a “neutral” rating and set a $55.78 target price for the company. in a report on Sunday, December 9th. SunTrust Banks lowered shares of Belden from a “buy” rating to a “hold” rating and set a $56.00 target price for the company. in a report on Thursday, November 1st. Zacks Investment Research lowered shares of Belden from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Finally, Canaccord Genuity lowered their target price on shares of Belden from $88.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Belden has an average rating of “Hold” and a consensus target price of $66.39.

BDC opened at $55.34 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.90 and a quick ratio of 1.38. Belden has a 52 week low of $37.79 and a 52 week high of $78.81. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 10.34 and a beta of 2.59.



Belden declared that its Board of Directors has authorized a share repurchase program on Thursday, November 29th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 13.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, SVP Roel Vestjens purchased 447 shares of Belden stock in a transaction dated Wednesday, November 14th. The shares were bought at an average cost of $55.94 per share, with a total value of $25,005.18. Following the completion of the transaction, the senior vice president now directly owns 22,778 shares in the company, valued at approximately $1,274,201.32. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.34% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Guyasuta Investment Advisors Inc. boosted its position in shares of Belden by 6.3% during the fourth quarter. Guyasuta Investment Advisors Inc. now owns 16,865 shares of the industrial products company’s stock worth $704,000 after purchasing an additional 1,000 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of Belden by 3.1% during the fourth quarter. Texas Permanent School Fund now owns 26,375 shares of the industrial products company’s stock worth $1,102,000 after purchasing an additional 805 shares in the last quarter. BlackRock Inc. boosted its position in shares of Belden by 0.8% during the fourth quarter. BlackRock Inc. now owns 4,599,763 shares of the industrial products company’s stock worth $192,131,000 after purchasing an additional 35,400 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Belden during the fourth quarter worth $557,000. Finally, Investment Counselors of Maryland LLC boosted its position in shares of Belden by 1.9% during the fourth quarter. Investment Counselors of Maryland LLC now owns 468,356 shares of the industrial products company’s stock worth $19,563,000 after purchasing an additional 8,902 shares in the last quarter.

Belden Company Profile

Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.

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Analyst Recommendations for Belden (NYSE:BDC)

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