Analysis: Belden Inc (NYSE:BDC) Stock Target Increased Today
In an analyst research report shared with investors by Canaccord Genuity on Tuesday, 8 December, the firm, Belden Inc (NYSE:BDC), had their TP cut to $73.50. Analusts at present have a solid “Buy” rating on the stock.
From a total of 5 analysts covering Belden Inc. (NYSE:BDC) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 83% of the ratings are positive. The highest target price is $80 while the lowest target price is $73.5. The mean of all analyst targets is $77.7 with a 36.16% above today’s ($53.98) stock price. Belden Inc. was the topic of 4 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Canaccord Genuity maintained shares on December 8 with “Buy” rating.
The stock decreased 5.70% or $3.26 during the last trading session, striking $53.98. Approximately shares of stock traded hands. Belden Inc. (NYSE:BDC) has declined 35.55% since May 6, 2015 and is downtrending. It has underperformed by 34.76% the S&P500.
The overall sentiment of institutions has decreased to 0.86 in Q2 2015. Its down 0.15, from 1.01 in 2015Q2. The ratio turned negative, as 54 institutions have sold all the shares of Belden Inc. that they owned while 71 funds have taken shares off the table. 36 funds have purchased shares for the first time while 72 added to their positions. These institutions now hold 52.46 million shares or 17.89% more than the 44.50 million shares they owned in 2015Q2.
The Fund Lapides Asset Management Llc currently is holding shares equating to 1.91% of its total portfolio in Belden Inc. representing a total of 238,200 shares. Another fund,Channing Capital Management Llc, is holding a total of 697,330 shares equating to 1.59% of their holdings. Additionally, Basswood Capital Management L.L.C. has a 658,971 share stake in Belden Inc. which represents 1.52% of their total portfolio. The Fund, Rail, based out of Alabama, has also built up a stake in the stock, which represents a total of 1.49% of their total portfolio. Finally Investment Counselors Of Maryland Llc, a fund which is based in the state of Maryland reported a total holdings of 380,976 shares.
Belden Inc. is a signal transmission solutions provider. The company has a market cap of $2.40 billion. The Company’s portfolio of signal transmission solutions provides industry secure and reliable transmission of data, sound, and video for mission critical applications. It has 73.01 P/E ratio. The Firm operates in four divisions: Broadcast Solutions, which provides production, distribution, and connectivity systems for television broadcast, cable, satellite and IPTV industries; Enterprise Connectivity Solutions, which provides network infrastructure solutions for enterprise customers; Industrial Connectivity Solutions, which provides infrastructure components and connectivity systems for a range of industrial automation applications and Industrial IT Solutions, which provides mission-critical networking systems.
According to Zacks Investment Research, “Belden Inc is engaged in the design, manufacture and retail of cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. The Company’s products find its application in the industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, Europe, and Asia, and a market presence in nearly every region of the world. Belden Inc is based in St. Louis, Missouri.” Get a free copy of the Zacks research report on Belden Inc. (BDC).