Hubbell (NYSE:HUBB) Stock Rating Lowered by StockNews.com

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

HUBB has been the subject of a number of other research reports. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company cut their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Mizuho lifted their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Barclays boosted their price objective on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $471.50.

Hubbell Price Performance

NYSE:HUBB opened at $417.96 on Tuesday. The firm has a market capitalization of $22.43 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 1.57 and a beta of 0.93. 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 has a 50 day simple moving average of $440.67 and a 200-day simple moving average of $420.88. Hubbell has a 1 year low of $329.24 and a 1 year high of $481.35.

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. Equities analysts forecast that Hubbell will post 16.48 EPS for the current year.

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Groupama Asset Managment raised its stake in Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell during the fourth quarter valued at about $30,000. Prospera Private Wealth LLC purchased a new position in shares of Hubbell in the 3rd quarter valued at approximately $33,000. Versant Capital Management Inc boosted its stake in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in Hubbell during the 3rd quarter worth approximately $41,000. Institutional investors own 88.16% of the company’s stock.

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.