StockNews.com Upgrades Hubbell (NYSE:HUBB) to Buy

Hubbell (NYSE:HUBB) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other analysts also recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Wells Fargo & Company raised their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Barclays lifted their target price on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and raised their price target for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $449.11.

Hubbell Trading Down 0.7 %

Shares of NYSE HUBB opened at $460.55 on Monday. Hubbell has a 1-year low of $293.91 and a 1-year high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The business’s 50 day moving average is $442.31 and its two-hundred day moving average is $402.71. The stock has a market capitalization of $24.72 billion, a P/E ratio of 33.18, a PEG ratio of 1.71 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $3.95 earnings per share. Hubbell’s revenue was up 4.9% on a year-over-year basis. As a group, research analysts expect that Hubbell will post 16.47 EPS for the current year.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hubbell

Several institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC boosted its position in shares of Hubbell by 85.3% in the 1st quarter. Lazard Asset Management LLC now owns 1,781 shares of the industrial products company’s stock worth $739,000 after purchasing an additional 820 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in Hubbell by 10.0% in the first quarter. Mount Yale Investment Advisors LLC now owns 703 shares of the industrial products company’s stock worth $292,000 after acquiring an additional 64 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Hubbell by 6.5% during the first quarter. Janus Henderson Group PLC now owns 6,586 shares of the industrial products company’s stock worth $2,731,000 after acquiring an additional 403 shares during the last quarter. Meiji Yasuda Life Insurance Co acquired a new position in shares of Hubbell during the first quarter valued at about $950,000. Finally, Tidal Investments LLC raised its position in shares of Hubbell by 499.3% in the 1st quarter. Tidal Investments LLC now owns 4,992 shares of the industrial products company’s stock valued at $2,072,000 after purchasing an additional 4,159 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Company Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.