StockNews.com Upgrades Hubbell (NYSE:HUBB) to Buy

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

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. Mizuho increased their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and cut their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, Barclays upped their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Hubbell presently has a consensus rating of “Hold” and a consensus price target of $471.50.

Hubbell Stock Up 1.1 %

Shares of Hubbell stock traded up $4.87 during trading hours on Thursday, reaching $433.80. 444,928 shares of the company were exchanged, compared to its average volume of 459,821. The firm has a market cap of $23.28 billion, a PE ratio of 31.25, a PEG ratio of 1.45 and a beta of 0.93. The stock’s fifty day moving average is $443.15 and its 200 day moving average is $416.47. Hubbell has a 1 year low of $319.06 and a 1 year high of $481.35. 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 results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. Hubbell’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.95 EPS. As a group, equities research analysts forecast that Hubbell will post 16.47 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Groupama Asset Managment boosted its stake in shares of Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares during the period. Prospera Private Wealth LLC purchased a new stake in Hubbell during the 3rd quarter valued at approximately $33,000. Versant Capital Management Inc lifted its position in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell in the 3rd quarter valued at approximately $41,000. Finally, Quarry LP purchased a new position in shares of Hubbell in the 2nd quarter valued at approximately $49,000. 88.16% of the stock is currently 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.