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

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

Other equities analysts have also recently issued research reports about the company. Morgan Stanley upped their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and increased their price target for the company from $431.00 to $441.00 in a report on Friday, September 6th. Wells Fargo & Company increased their price target on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein assumed 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. Finally, JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell Stock Performance

HUBB traded up $2.97 on Monday, reaching $463.78. 578,342 shares of the stock were exchanged, compared to its average volume of 444,600. The company’s 50-day moving average price is $441.22 and its 200 day moving average price is $402.32. Hubbell has a fifty-two week low of $293.91 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The firm has a market capitalization of $24.89 billion, a PE ratio of 33.41, a PEG ratio of 1.71 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the business earned $3.95 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Hubbell will post 16.47 EPS for the current fiscal year.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.78% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prospera Private Wealth LLC purchased a new position in shares of Hubbell during the third quarter worth about $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell during the 3rd quarter worth approximately $41,000. Quarry LP purchased a new stake in shares of Hubbell during the 2nd quarter worth approximately $49,000. Northwest Investment Counselors LLC acquired a new position in shares of Hubbell during the 3rd quarter worth approximately $58,000. Finally, GAMMA Investing LLC raised its position in shares of Hubbell by 84.7% during the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other 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.