Belden Inc. (BDC) Draws Bullish Attention After Forming Double Top

December 7, 2017 - By Peter Erickson

Investors sentiment decreased to 1 in 2017 Q2. Its down 0.23, from 1.23 in 2017Q1. It turned 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.
Asset reported 0.01% in Belden Inc. (NYSE:BDC). Cwm Ltd Com stated it has 20 shares or 0% of all its holdings. California Public Employees Retirement System stated it has 0.01% of its portfolio in Belden Inc. (NYSE:BDC). State Treasurer State Of Michigan owns 17,400 shares. Ubs Asset Mngmt Americas Inc holds 0% or 24,483 shares. Guyasuta Inv has invested 0.13% in Belden Inc. (NYSE:BDC). Ftb Advisors Inc accumulated 29 shares or 0% of the stock. Whittier has invested 0.01% of its portfolio in Belden Inc. (NYSE:BDC). Point72 Asia (Hong Kong) Limited reported 278 shares stake. Mason Street Advsr Llc holds 0.04% of its portfolio in Belden Inc. (NYSE:BDC) for 20,650 shares. Glenmede Company Na invested in 16,177 shares or 0.01% of the stock. Cubist Systematic Strategies Limited Liability Corp holds 0.03% or 5,700 shares. 197,804 are held by Victory Management. Us State Bank De invested 0% in Belden Inc. (NYSE:BDC). Deutsche Financial Bank Ag accumulated 217,915 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 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 $74.22M 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. TheStreet upgraded the shares of BDC in report on Friday, July 31 to “Buy” rating. The stock of Belden Inc. (NYSE:BDC) has “Buy” rating given on Wednesday, August 16 by Canaccord Genuity. On Tuesday, September 12 the stock rating was maintained by Canaccord Genuity with “Buy”. The stock has “Hold” rating by SunTrust on Wednesday, October 11. Stifel Nicolaus reinitiated Belden Inc. (NYSE:BDC) on Monday, April 4 with “Buy” rating. The stock has “Hold” rating by Cross Research on Friday, December 1. Deutsche Bank maintained the shares of BDC in report on Thursday, August 3 with “Buy” rating. Guggenheim maintained it with “Buy” rating and $9000 target in Wednesday, August 2 report. Guggenheim initiated Belden Inc. (NYSE:BDC) on Tuesday, July 11 with “Buy” rating. The company was downgraded on Wednesday, September 7 by Suntrust Robinson.

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

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