Hubbell (NYSE:HUBB) Downgraded to “Hold” Rating by Deutsche Bank Aktiengesellschaft

Hubbell (NYSE:HUBB) was downgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. They currently have a $473.00 price objective on the industrial products company’s stock, down from their previous price objective of $493.00. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 1.99% from the company’s current price.

HUBB has been the subject of several other reports. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Monday. Sanford C. Bernstein started coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Mizuho raised their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Stephens reaffirmed an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Finally, Barclays raised their price objective on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $449.11.

Hubbell Stock Up 0.6 %

NYSE:HUBB opened at $463.78 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The company has a market cap of $24.89 billion, a PE ratio of 33.41, a PEG ratio of 1.71 and a beta of 0.90. Hubbell has a 52-week low of $293.91 and a 52-week high of $481.35. The stock has a 50-day simple moving average of $442.31 and a 200 day simple moving average of $402.71.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm posted $3.95 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts expect that Hubbell will post 16.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hubbell 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 transaction of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.78% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Hedge funds have recently added to or reduced their stakes in the stock. Groupama Asset Managment increased its stake in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,010 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Hubbell during the 3rd quarter valued at $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Hubbell during the 3rd quarter valued at $41,000. Quarry LP acquired a new stake in shares of Hubbell during the 2nd quarter valued at $49,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell during the 3rd quarter valued at $58,000. 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.