Belden Inc. (BDC)’s Trend Up, Especially After Forming a Double Top

December 7, 2017 - By Hazel Jackson

Investors sentiment decreased to 1 in 2017 Q2. Its down 0.23, from 1.23 in 2017Q1. It is negative, as 32 investors sold Belden Inc. shares while 73 reduced holdings. 30 funds opened positions while 75 raised stakes. 42.57 million shares or 1.03% more from 42.14 million shares in 2017Q1 were reported.
Delphi Management Incorporated Ma has invested 0.75% of its portfolio in Belden Inc. (NYSE:BDC). Moreover, Liberty Mutual Asset Mngmt has 0.05% invested in Belden Inc. (NYSE:BDC) for 16,810 shares. Hexavest invested in 1,400 shares. 83,700 were accumulated by California Employees Retirement Systems. Deutsche National Bank & Trust Ag, Germany-based fund reported 217,915 shares. Retirement Sys Of Alabama holds 54,496 shares or 0.02% of its portfolio. Proshare Advsr Ltd Co stated it has 6,843 shares. Invest Counselors Of Maryland Ltd Llc owns 236,141 shares. Prescott Grp Inc Capital Mgmt Ltd has invested 0.56% in Belden Inc. (NYSE:BDC). Manufacturers Life Insur Communication The has 93,562 shares. California-based Lpl Ltd Llc has invested 0% in Belden Inc. (NYSE:BDC). Piermont Mngmt Inc invested 0.47% in Belden Inc. (NYSE:BDC). Capstone Asset Mgmt invested in 3,469 shares. Hgk Asset Management reported 10,643 shares or 0.11% of all its holdings. Arizona State Retirement Systems has 0.02% invested in Belden Inc. (NYSE:BDC) for 17,800 shares.

The chart of Belden Inc. (BDC) shows a double top with $84.28 target or 3.00 % above today’s $81.83 share price. The 6 months chart pattern indicates low risk for the $3.45 billion company. It was reported on Dec, 7 by Finviz.com. If the $84.28 price target is reached, the company will be worth $103.53 million more. Double tops are rare but powerful chart patterns.

The stock decreased 0.56% or $0.46 during the last trading session, reaching $81.83. About 327,317 shares traded or 38.18% up from the average. Belden Inc. (NYSE:BDC) has risen 12.57% since December 7, 2016 and is uptrending. It has underperformed by 4.13% the S&P500.

Analysts await Belden Inc. (NYSE:BDC) to report earnings on February, 1. They expect $1.76 earnings per share, up 23.94 % or $0.34 from last year’s $1.42 per share. BDC’s profit will be $74.22 million for 11.62 P/E if the $1.76 EPS becomes a reality. After $1.49 actual earnings per share reported by Belden Inc. for the previous quarter, Wall Street now forecasts 18.12 % EPS growth.

Belden Inc. (NYSE:BDC) Ratings Coverage

Among 13 analysts covering Belden Inc. (NYSE:BDC), 6 have Buy rating, 0 Sell and 7 Hold. Therefore 46% are positive. Belden Inc. had 24 analyst reports since July 24, 2015 according to SRatingsIntel. The firm earned “Neutral” rating on Monday, February 13 by JP Morgan. The firm has “Hold” rating by Cross Research given on Friday, December 1. The firm has “Buy” rating given on Thursday, July 6 by Stifel Nicolaus. Stifel Nicolaus maintained it with “Buy” rating and $97.0 target in Wednesday, December 6 report. The rating was maintained by Stifel Nicolaus with “Buy” on Wednesday, September 20. The stock has “Hold” rating by TheStreet on Saturday, September 5. The rating was maintained by Guggenheim with “Buy” on Wednesday, August 2. Canaccord Genuity maintained the shares of BDC in report on Tuesday, December 8 with “Buy” rating. The rating was initiated by Guggenheim with “Buy” on Tuesday, July 11. The stock of Belden Inc. (NYSE:BDC) has “Buy” rating given on Monday, July 10 by Canaccord Genuity.

More recent Belden Inc. (NYSE:BDC) news were published by: Businesswire.com which released: “Belden Appoints Diane Brink to Board of Directors” on December 06, 2017. Also Businesswire.com published the news titled: “Belden to Host 2017 Financial Analyst and Investor Day Webcast on December 5” on November 21, 2017. Businesswire.com‘s news article titled: “Belden to Host 2017 Financial Analyst and Investor Day Webcast and Reaffirm …” with publication date: December 05, 2017 was also an interesting one.

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