Is Buying Belden Inc. (BDC) Here a Winning Strategy? The Stock Formed Bullish Double Top Pattern

December 7, 2017 - By Adrian Mccoy

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.
State Of Tennessee Treasury Department owns 80,000 shares. Skyline Asset Limited Partnership owns 304,000 shares. Gabelli Funds Llc reported 0% stake. Moreover, Vantage Inv Advsr has 0.03% invested in Belden Inc. (NYSE:BDC). Deutsche Savings Bank Ag accumulated 217,915 shares. 29,373 were reported by Jpmorgan Chase. Catalyst Advisors Limited Liability Com has 4,100 shares. Texas Permanent School Fund has 30,863 shares for 0.03% of their portfolio. Ngam Advsr Ltd Partnership has invested 0.03% in Belden Inc. (NYSE:BDC). Aqr Capital Mgmt Limited Liability reported 53,999 shares. Crestpoint Mngmt Ltd Liability has 0.17% invested in Belden Inc. (NYSE:BDC). Fifth Third National Bank has 0% invested in Belden Inc. (NYSE:BDC) for 1,330 shares. Sei has 37,076 shares. Northern Tru invested 0.01% of its portfolio in Belden Inc. (NYSE:BDC). 35,431 were reported by Citadel Advsr Ltd Co.

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 EPS, 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 EPS 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. Canaccord Genuity maintained the shares of BDC in report on Wednesday, August 16 with “Buy” rating. Goldman Sachs initiated Belden Inc. (NYSE:BDC) rating on Friday, June 23. Goldman Sachs has “Buy” rating and $93 target. The rating was maintained by SunTrust with “Hold” on Wednesday, October 11. Deutsche Bank maintained Belden Inc. (NYSE:BDC) rating on Thursday, August 3. Deutsche Bank has “Buy” rating and $92 target. Stifel Nicolaus maintained it with “Buy” rating and $8700 target in Thursday, July 6 report. Canaccord Genuity maintained Belden Inc. (NYSE:BDC) rating on Tuesday, September 12. Canaccord Genuity has “Buy” rating and $88.0 target. Guggenheim maintained Belden Inc. (NYSE:BDC) rating on Wednesday, August 2. Guggenheim has “Buy” rating and $9000 target. The firm has “Buy” rating given on Friday, July 31 by TheStreet. The company was downgraded on Friday, December 1 by Cross Research. As per Monday, April 4, the company rating was reinitiated by Stifel Nicolaus.

More recent Belden Inc. (NYSE:BDC) news were published by: Businesswire.com which released: “Belden to Host 2017 Financial Analyst and Investor Day Webcast on December 5” on November 21, 2017. Also Businesswire.com published the news titled: “Belden to Host 2017 Financial Analyst and Investor Day Webcast and Reaffirm …” on December 05, 2017. Businesswire.com‘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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