Belden (BDC) Stock Rating Lowered by Cross Research

Belden (NYSE:BDC) was downgraded by equities researchers at Cross Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, The Fly reports.

BDC has been the topic of a number of other reports. Guggenheim reiterated a “buy” rating and issued a $90.00 target price on shares of Belden in a research report on Wednesday, August 1st. Canaccord Genuity set a $88.00 target price on Belden and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research downgraded Belden from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. TheStreet upgraded Belden from a “c” rating to a “b-” rating in a research report on Tuesday, August 21st. Finally, ValuEngine downgraded Belden from a “sell” rating to a “strong sell” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.40.

NYSE:BDC opened at $54.05 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $2.31 billion, a P/E ratio of 10.10 and a beta of 2.28. Belden has a 12 month low of $50.71 and a 12 month high of $87.14.

Belden (NYSE:BDC) last posted its earnings results on Wednesday, October 31st. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.01. The company had revenue of $659.00 million for the quarter, compared to the consensus estimate of $679.15 million. Belden had a return on equity of 20.50% and a net margin of 2.52%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 earnings per share. On average, equities research analysts anticipate that Belden will post 6.39 EPS for the current year.

A number of hedge funds have recently modified their holdings of BDC. Russell Investments Group Ltd. raised its position in Belden by 5.9% during the first quarter. Russell Investments Group Ltd. now owns 23,464 shares of the industrial products company’s stock valued at $1,617,000 after purchasing an additional 1,317 shares during the period. UBS Group AG raised its position in Belden by 265.2% during the first quarter. UBS Group AG now owns 4,338 shares of the industrial products company’s stock valued at $299,000 after purchasing an additional 3,150 shares during the period. Guggenheim Capital LLC raised its position in Belden by 9.7% during the first quarter. Guggenheim Capital LLC now owns 41,185 shares of the industrial products company’s stock valued at $2,839,000 after purchasing an additional 3,630 shares during the period. Legal & General Group Plc raised its position in Belden by 9.0% during the first quarter. Legal & General Group Plc now owns 44,133 shares of the industrial products company’s stock valued at $3,042,000 after purchasing an additional 3,657 shares during the period. Finally, Xact Kapitalforvaltning AB raised its position in Belden by 38.4% during the first quarter. Xact Kapitalforvaltning AB now owns 6,130 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 1,700 shares during the period.

About Belden

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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