Hubbell (NYSE:HUBB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $121.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price points to a potential upside of 14.17% from the company’s current price.
According to Zacks, “Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products to commercial, industrial, utility and telecommunications markets. The Company’s products include plugs, receptacles, connectors, lighting fixtures, high voltage test and measurement equipment and voice and data signal processing components. Hubbell Incorporated is based in SHELTON, United States. “
A number of other research analysts also recently commented on the company. JMP Securities raised Hubbell from a “market perform” rating to an “outperform” rating in a report on Monday, June 18th. ValuEngine downgraded Hubbell from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. JPMorgan Chase & Co. reduced their target price on Hubbell from $152.00 to $138.00 and set an “overweight” rating on the stock in a report on Thursday, April 26th. Morgan Stanley cut their price target on Hubbell from $145.00 to $133.00 and set an “overweight” rating on the stock in a report on Wednesday, April 25th. Finally, Oppenheimer cut their price target on Hubbell from $160.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $137.83.
Hubbell opened at $105.98 on Wednesday, MarketBeat reports. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.12 and a current ratio of 1.92. Hubbell has a 52 week low of $100.55 and a 52 week high of $149.03. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.51 and a beta of 1.05.
Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, April 24th. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Hubbell had a return on equity of 20.40% and a net margin of 6.27%. The company had revenue of $991.20 million for the quarter, compared to the consensus estimate of $975.95 million. During the same quarter last year, the business posted $1.23 EPS. Hubbell’s quarterly revenue was up 16.3% compared to the same quarter last year. research analysts forecast that Hubbell will post 7.09 earnings per share for the current fiscal year.
In related news, Director Neal J. Keating purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The shares were acquired at an average price of $105.96 per share, with a total value of $105,960.00. Following the acquisition, the director now owns 6,571 shares in the company, valued at approximately $696,263.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Rodd Richard Ruland purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The stock was bought at an average cost of $105.19 per share, for a total transaction of $210,380.00. The disclosure for this purchase can be found here. Company insiders own 0.69% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HUBB. American Century Companies Inc. increased its position in Hubbell by 7.3% in the 1st quarter. American Century Companies Inc. now owns 1,906,673 shares of the industrial products company’s stock valued at $232,195,000 after acquiring an additional 130,354 shares during the period. Goldman Sachs Group Inc. increased its position in Hubbell by 21.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,531,331 shares of the industrial products company’s stock valued at $207,251,000 after acquiring an additional 272,407 shares during the period. Lord Abbett & CO. LLC increased its position in Hubbell by 11.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,091,452 shares of the industrial products company’s stock valued at $132,917,000 after acquiring an additional 114,817 shares during the period. Northern Trust Corp increased its position in Hubbell by 1.3% in the 1st quarter. Northern Trust Corp now owns 650,104 shares of the industrial products company’s stock valued at $79,169,000 after acquiring an additional 8,320 shares during the period. Finally, Boston Partners increased its position in Hubbell by 2.4% in the 1st quarter. Boston Partners now owns 598,368 shares of the industrial products company’s stock valued at $72,870,000 after acquiring an additional 14,056 shares during the period. 85.74% of the stock is currently owned by institutional investors and hedge funds.
Hubbell Company Profile
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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