Belden (NYSE:BDC) Now Covered by Analysts at Jefferies Financial Group

Key Points

• Jefferies initiated coverage of Belden with a “hold” rating and a $114 price target, implying 8.46% upside from the current share price.
• Analyst sentiment overall is more positive: Belden has a “Moderate Buy” consensus rating and an average price target of $149, based on one Strong Buy, five Buy, and three Hold ratings.
• Belden reported quarterly EPS of $2.26, matching estimates, while revenue of $965.95 million topped forecasts and rose 38.3% year over year.

Equities researchers at Jefferies Financial Group assumed coverage on shares of Belden (NYSE:BDC - Get Free Report) in a research note issued on Wednesday, Briefing.com reports. The firm set a "hold" rating and a $114.00 price target on the industrial products company's stock. Jefferies Financial Group's price objective would suggest a potential upside of 8.46% from the company's current price.

Other research analysts have also issued research reports about the stock. Zacks Research lowered shares of Belden from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. Wall Street Zen lowered shares of Belden from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 31st. DA Davidson boosted their price objective on shares of Belden from $155.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Truist Financial reaffirmed a "buy" rating and issued a $145.00 price objective (down from $155.00) on shares of Belden in a research report on Friday, July 31st. Finally, Weiss Ratings lowered shares of Belden from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $149.00.

Belden Stock Down 1.7%

NYSE:BDC opened at $105.11 on Wednesday. Belden has a 1 year low of $94.75 and a 1 year high of $159.99. The stock has a 50-day moving average price of $109.49 and a two-hundred day moving average price of $117.69. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 23.62 and a beta of 1.16. The company has a current ratio of 1.82, a quick ratio of 1.24 and a debt-to-equity ratio of 2.18.

Belden (NYSE:BDC - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.26 EPS for the quarter, hitting analysts' consensus estimates of $2.26. Belden had a return on equity of 25.06% and a net margin of 5.62%. The company had revenue of $965.95 million for the quarter, compared to analyst estimates of $961.91 million. During the same quarter last year, the firm posted $1.97 earnings per share. Belden's revenue was up 38.3% compared to the same quarter last year. As a group, equities analysts expect that Belden will post 8.66 earnings per share for the current year.

Institutional Investors Weigh In On Belden

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in shares of Belden by 10.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,127 shares of the industrial products company's stock valued at $129,000 after acquiring an additional 102 shares in the last quarter. GAMMA Investing LLC raised its holdings in Belden by 25.7% during the third quarter. GAMMA Investing LLC now owns 587 shares of the industrial products company's stock worth $63,000 after acquiring an additional 120 shares in the last quarter. Signaturefd LLC boosted its position in Belden by 39.8% during the third quarter. Signaturefd LLC now owns 587 shares of the industrial products company's stock valued at $63,000 after purchasing an additional 167 shares during the last quarter. State of Michigan Retirement System boosted its position in Belden by 2.2% during the first quarter. State of Michigan Retirement System now owns 9,498 shares of the industrial products company's stock valued at $1,091,000 after purchasing an additional 200 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. grew its stake in Belden by 226.3% in the third quarter. Eurizon Capital SGR S.p.A. now owns 310 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 215 shares in the last quarter. 98.75% of the stock is owned by institutional investors.

About Belden

Belden Inc. develops and supplies connectivity and networking solutions that help organizations transmit data, audio and video. Its products include copper and fiber-optic cable, connectors, and networking equipment used to build and manage communications networks. The company serves industrial, enterprise and broadcast markets. Its solutions support applications such as factory automation, enterprise networking and the production and distribution of audio and video content. Belden sells to customers in markets around the world.

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