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

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

Several other research firms have also commented on HUBB. Stephens reaffirmed an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Mizuho upped their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays raised their target price on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Finally, Wells Fargo & Company raised their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $449.11.

Hubbell Stock Down 0.7 %

Hubbell stock opened at $460.55 on Monday. Hubbell has a fifty-two week low of $293.91 and a fifty-two week high of $481.35. The company has a market cap of $24.72 billion, a PE ratio of 33.18, a PEG ratio of 1.71 and a beta of 0.90. 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 business’s 50-day simple moving average is $442.31 and its two-hundred day simple moving average is $402.71.

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 net margin of 13.33% and a return on equity of 28.81%. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.95 EPS. Equities analysts anticipate that Hubbell will post 16.47 EPS for the current year.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, 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 at the SEC website. 0.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hubbell

Several large investors have recently bought and sold shares of the company. Groupama Asset Managment boosted its stake 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 acquiring an additional 1,010 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Hubbell in the 3rd quarter valued at $33,000. Ashton Thomas Securities LLC acquired a new stake in Hubbell during the 3rd quarter worth $41,000. Quarry LP purchased a new stake in shares of Hubbell during the second quarter worth $49,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell during the third quarter worth $58,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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.