Hubbell (NYSE:HUBB) Price Target Lowered to $400.00 at Barclays

Hubbell (NYSE:HUBB) had its target price reduced by research analysts at Barclays from $422.00 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 target price would suggest a potential upside of 13.74% from the company’s current price.

A number of other equities research analysts also recently issued reports on HUBB. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company cut their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $462.13.

Hubbell Stock Down 0.5 %

Shares of NYSE HUBB opened at $351.69 on Wednesday. The business has a 50-day simple moving average of $385.55 and a two-hundred day simple moving average of $419.79. Hubbell has a 52 week low of $330.32 and a 52 week high of $481.35. The company has a market cap of $18.87 billion, a P/E ratio of 24.49, a P/E/G ratio of 1.34 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.69 earnings per share. Research analysts anticipate that Hubbell will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV increased its stake in Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 30 shares during the period. Groupama Asset Managment grew its holdings in shares of Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell in the fourth quarter worth $30,000. Versant Capital Management Inc raised its holdings in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares during the last quarter. Finally, Johnson Financial Group Inc. boosted its position in Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock valued at $44,000 after buying an additional 65 shares during the period. 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.