Jefferies Financial Group Initiates Coverage on Belden (NYSE:BDC)

Jefferies Financial Group assumed coverage on shares of Belden (NYSE:BDC) in a research note issued on Wednesday, Briefing.com reports. The brokerage set a “hold” rating and a $114.00 price target on the industrial products company’s stock. Jefferies Financial Group‘s target price suggests a potential upside of 8.46% from the company’s previous close.

Several other brokerages also recently issued reports on BDC. DA Davidson raised their target price on shares of Belden from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Zacks Research downgraded Belden from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Wall Street Zen lowered Belden from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. 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, Needham & Company LLC started coverage on Belden in a research note on Wednesday, September 23rd. They set a “buy” rating and a $140.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.00.

Belden Stock Performance

NYSE BDC opened at $105.11 on Wednesday. The firm has a market capitalization of $4.11 billion, a P/E 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. The firm’s fifty day moving average price is $109.49 and its two-hundred day moving average price is $117.69. Belden has a 1 year low of $94.75 and a 1 year high of $159.99.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.26 EPS for the quarter, meeting analysts’ consensus estimates of $2.26. The company had revenue of $965.95 million during the quarter, compared to the consensus estimate of $961.91 million. Belden had a net margin of 5.62% and a return on equity of 25.06%. The company’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.97 EPS. As a group, research analysts anticipate that Belden will post 8.66 EPS for the current year.

Institutional Trading of Belden

A number of hedge funds have recently modified their holdings of the stock. USS Investment Management Ltd grew its stake in Belden by 54.5% in the 3rd quarter. USS Investment Management Ltd now owns 3,400 shares of the industrial products company’s stock valued at $367,000 after buying an additional 1,200 shares during the last quarter. Boston Partners boosted its holdings in shares of Belden by 11.4% during the third quarter. Boston Partners now owns 434,442 shares of the industrial products company’s stock worth $46,678,000 after acquiring an additional 44,448 shares during the period. Public Sector Pension Investment Board bought a new stake in shares of Belden during the third quarter worth approximately $2,123,000. Hantz Financial Services Inc. grew its position in shares of Belden by 140.4% in the third quarter. Hantz Financial Services Inc. now owns 755 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 441 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Belden by 43.8% in the third quarter. Russell Investments Group Ltd. now owns 50,658 shares of the industrial products company’s stock valued at $5,468,000 after purchasing an additional 15,422 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Company Profile

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.