Hubbell (NYSE:HUBB) PT Raised to $400.00

Hubbell (NYSE:HUBB) had its target price raised by equities researchers at Barclays from $368.00 to $400.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target would indicate a potential downside of 6.45% from the company’s previous close.

A number of other analysts have also recently commented on HUBB. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Stephens reissued an “overweight” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Morgan Stanley assumed coverage on shares of Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and upped their target price for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Finally, Wells Fargo & Company upped their price target on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and a consensus target price of $408.88.

Hubbell Stock Performance

NYSE:HUBB traded up $0.30 during mid-day trading on Wednesday, hitting $427.59. 148,658 shares of the company’s stock traded hands, compared to its average volume of 449,763. The firm has a 50 day moving average of $388.94 and a two-hundred day moving average of $390.27. Hubbell has a 12 month low of $248.37 and a 12 month high of $433.03. The firm has a market capitalization of $22.96 billion, a price-to-earnings ratio of 31.80, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $4.07 EPS. On average, equities analysts forecast that Hubbell will post 16.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hubbell

Several large investors have recently modified their holdings of the business. Nvwm LLC bought a new position in shares of Hubbell during the 1st quarter worth approximately $25,000. Riverview Trust Co purchased a new stake in Hubbell during the 1st quarter worth approximately $52,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell during the 1st quarter worth approximately $56,000. Quarry LP purchased a new stake in Hubbell during the 2nd quarter worth approximately $49,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Hubbell during the 2nd quarter worth approximately $62,000. Institutional investors own 88.16% of the company’s stock.

About Hubbell

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.