Hubbell (NYSE:HUBB) Price Target Raised to $402.00 at Barclays

Hubbell (NYSE:HUBB) had its price target boosted by equities researchers at Barclays from $400.00 to $402.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target suggests a potential downside of 7.32% from the stock’s current price.

A number of other research firms also recently commented on HUBB. Morgan Stanley started coverage on shares of Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and lifted their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Stephens reissued an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Wells Fargo & Company increased their target price on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $434.38.

Hubbell Trading Down 1.4 %

NYSE HUBB traded down $6.35 during trading on Wednesday, hitting $433.77. The stock had a trading volume of 231,497 shares, compared to its average volume of 441,287. Hubbell has a one year low of $248.37 and a one year high of $461.77. The stock has a 50 day simple moving average of $418.82 and a 200 day simple moving average of $395.15. The stock has a market capitalization of $23.29 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 1.66 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 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 revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.95 earnings per share. Sell-side analysts predict that Hubbell will post 16.43 earnings per share for the current year.

Insider Transactions at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the business’s 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 1,670 shares in the company, valued at $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Impax Asset Management Group plc lifted its holdings in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after buying an additional 279,654 shares during the period. Arlington Capital Management Inc. acquired a new position in Hubbell in the third quarter valued at approximately $651,000. Vestor Capital LLC boosted its position in Hubbell by 100.0% in the 3rd quarter. Vestor Capital LLC now owns 4,126 shares of the industrial products company’s stock worth $1,767,000 after purchasing an additional 2,063 shares in the last quarter. BSW Wealth Partners acquired a new stake in shares of Hubbell during the 3rd quarter worth approximately $210,000. Finally, Van ECK Associates Corp increased its holdings in shares of Hubbell by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 9,741 shares of the industrial products company’s stock valued at $4,332,000 after purchasing an additional 966 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

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.