Hubbell (NYSE:HUBB) Given New $352.00 Price Target at JPMorgan Chase & Co.

Hubbell (NYSE:HUBB) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $430.00 to $352.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 0.12% from the company’s previous close.

Other analysts have also recently issued research reports about the company. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday, April 3rd. Barclays cut their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Finally, 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 report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Hubbell currently has a consensus rating of “Hold” and an average target price of $449.38.

Hubbell Trading Up 11.0 %

Shares of NYSE HUBB opened at $352.43 on Tuesday. Hubbell has a twelve month low of $299.43 and a twelve month high of $481.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $358.96 and a two-hundred day simple moving average of $412.97. The firm has a market cap of $18.91 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the business earned $3.69 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. Analysts expect that Hubbell will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % 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. Corporate insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

A number of institutional investors and hedge funds have recently modified their holdings of HUBB. Creative Financial Designs Inc. ADV raised its position in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after buying an additional 30 shares during the last quarter. Groupama Asset Managment raised its holdings 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 purchasing an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in Hubbell during the fourth quarter valued at $30,000. Versant Capital Management Inc boosted its holdings in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares during the last quarter. Finally, Johnson Financial Group Inc. grew its holdings in Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds 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.