Canaccord Genuity Keeps a Buy Rating on Belden Inc (BDC)


Canaccord Genuity analyst Chip Moore maintained a Buy rating on Belden Inc (NYSE: BDC) yesterday and set a price target of $88. The company’s shares opened today at $70.52.

According to TipRanks.com, Moore is a 4-star analyst with an average return of 12.1% and a 67.7% success rate. Moore covers the Consumer Goods sector, focusing on stocks such as Renewable Energy Group, SolarEdge Technologies, and Badger Meter.

Belden Inc has an analyst consensus of Strong Buy, with a price target consensus of $83.40, a 18.3% upside from current levels. In a report released yesterday, Guggenheim also reiterated a Buy rating on the stock with a $90 price target.

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Based on Belden Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $28.87 million. In comparison, last year the company had a net profit of $35.98 million.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BDC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Belden, Inc. engages in the provision of innovative signal transmission solutions. Its comprehensive portfolio of signal transmission solutions provides industry secure and reliable transmission of data, sound and video for mission critical applications.

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