Hubbell (NYSE:HUBB) Raised to Buy at StockNews.com

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

A number of other research analysts also recently commented on the company. Morgan Stanley increased their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Stephens reissued an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Barclays lifted their price objective on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell Stock Performance

HUBB stock traded down $13.72 during midday trading on Thursday, reaching $440.07. 365,644 shares of the company’s stock traded hands, compared to its average volume of 444,257. The firm has a market capitalization of $23.62 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90. Hubbell has a 52 week low of $287.06 and a 52 week high of $481.35. The company has a 50-day moving average price of $432.35 and a two-hundred day moving average price of $399.10. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

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

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was 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 of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

A number of large investors have recently bought and sold shares of HUBB. Envestnet Portfolio Solutions Inc. increased its position in shares of Hubbell by 32.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,629 shares of the industrial products company’s stock worth $676,000 after purchasing an additional 395 shares during the period. Empowered Funds LLC purchased a new position in shares of Hubbell during the 1st quarter valued at about $327,000. Oppenheimer Asset Management Inc. lifted its stake in Hubbell by 5.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 968 shares of the industrial products company’s stock worth $402,000 after acquiring an additional 52 shares during the period. Russell Investments Group Ltd. boosted its stake in Hubbell by 4.1% in the 1st quarter. Russell Investments Group Ltd. now owns 36,282 shares of the industrial products company’s stock worth $15,059,000 after purchasing an additional 1,421 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in shares of Hubbell by 4.5% in the 1st quarter. Bleakley Financial Group LLC now owns 2,146 shares of the industrial products company’s stock worth $891,000 after purchasing an additional 92 shares during the period. 88.16% of the stock is owned by institutional investors.

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.