Belden (NYSE:BDC) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday.
A number of other equities research analysts have also recently commented on the company. Longbow Research upgraded Belden from a “neutral” rating to a “buy” rating and set a $41.92 target price on the stock in a research report on Thursday, January 3rd. Zacks Investment Research upgraded Belden from a “sell” rating to a “hold” rating in a research report on Tuesday, January 1st. Goldman Sachs Group cut Belden from a “buy” rating to a “neutral” rating and set a $55.78 target price on the stock. in a research report on Sunday, December 9th. TheStreet lowered shares of Belden from a “b-” rating to a “c+” rating in a research note on Thursday, November 8th. Finally, Cross Research lowered shares of Belden from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.39.
NYSE:BDC opened at $55.83 on Tuesday. Belden has a 52 week low of $37.79 and a 52 week high of $78.81. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.38 and a current ratio of 1.90. The stock has a market cap of $2.18 billion, a PE ratio of 10.44 and a beta of 2.59.
Belden declared that its Board of Directors has authorized a share buyback plan on Thursday, November 29th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 13.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Institutional investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC purchased a new position in Belden in the 4th quarter valued at about $55,000. Howe & Rusling Inc. lifted its stake in Belden by 28.9% in the 4th quarter. Howe & Rusling Inc. now owns 2,879 shares of the industrial products company’s stock valued at $120,000 after buying an additional 646 shares in the last quarter. First Hawaiian Bank purchased a new position in Belden in the 3rd quarter worth approximately $159,000. Neuburgh Advisers LLC lifted its stake in Belden by 12.1% in the 4th quarter. Neuburgh Advisers LLC now owns 3,840 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 416 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in Belden in the 4th quarter worth approximately $200,000.
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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