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 research report issued on Tuesday.

Several other brokerages also recently issued reports on HUBB. Sanford C. Bernstein initiated coverage on shares of Hubbell in a research note on Tuesday. They set an “outperform” rating and a $535.00 price objective on the stock. Mizuho upped their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and upped their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Barclays upped their price objective on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Stephens reissued an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Stock Performance

Shares of NYSE:HUBB traded up $14.97 on Tuesday, reaching $439.89. The company’s stock had a trading volume of 365,923 shares, compared to its average volume of 442,068. Hubbell has a 52-week low of $274.42 and a 52-week high of $461.77. 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 stock’s 50-day moving average is $423.54 and its two-hundred day moving average is $396.41. The stock has a market capitalization of $23.61 billion, a P/E ratio of 31.69, a PEG ratio of 1.58 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released 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. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.95 earnings per share. As a group, sell-side analysts forecast that Hubbell will post 16.47 EPS for the current year.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HUBB. IFG Advisory LLC bought a new position in shares of Hubbell in the 2nd quarter worth about $475,000. Sustainable Insight Capital Management LLC bought a new position in shares of Hubbell in the 1st quarter worth about $1,868,000. Acadian Asset Management LLC lifted its position in shares of Hubbell by 51.3% in the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after buying an additional 1,252 shares during the last quarter. Great Valley Advisor Group Inc. lifted its position in shares of Hubbell by 24.6% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock worth $2,511,000 after buying an additional 1,359 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Hubbell by 2.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after purchasing an additional 2,822 shares during 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.