Hubbell (NYSE:HUBB) Now Covered by Analysts at Sanford C. Bernstein

Equities researchers at Sanford C. Bernstein began coverage on shares of Hubbell (NYSE:HUBB) in a research note issued to investors on Tuesday, Briefing.com reports. The firm set an “outperform” rating and a $535.00 price target on the industrial products company’s stock. Sanford C. Bernstein’s price target would indicate a potential upside of 25.91% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Barclays raised their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Wells Fargo & Company boosted their price target on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Stephens restated an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $445.56.

Hubbell Stock Performance

Hubbell stock opened at $424.92 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $22.81 billion, a P/E ratio of 30.61, a PEG ratio of 1.58 and a beta of 0.90. The stock has a fifty day moving average price of $422.50 and a 200 day moving average price of $396.04. Hubbell has a 52 week low of $274.42 and a 52 week high of $461.77.

Hubbell (NYSE:HUBB) last posted its 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. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.95 EPS. Equities research analysts anticipate that Hubbell will post 16.47 earnings per share for the current year.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.78% of the stock is owned by insiders.

Institutional Trading of Hubbell

A number of institutional investors have recently made changes to their positions in HUBB. Norden Group LLC acquired a new stake in Hubbell in the first quarter worth approximately $261,000. Janney Montgomery Scott LLC boosted its stake in Hubbell by 4.0% during the first quarter. Janney Montgomery Scott LLC now owns 12,710 shares of the industrial products company’s stock valued at $5,276,000 after buying an additional 488 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Hubbell during the first quarter worth about $84,000. Jennison Associates LLC bought a new stake in Hubbell in the first quarter worth about $428,000. Finally, Mediolanum International Funds Ltd acquired a new stake in Hubbell in the 1st quarter valued at about $2,266,000. 88.16% of the stock is owned by institutional investors and hedge funds.

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.