Hubbell (NYSE:HUBB) Raised to “Buy” at Zacks Investment Research

Hubbell (NYSE:HUBBGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage currently has a $222.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.02% from the company’s previous close.

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. “

HUBB has been the topic of a number of other reports. Wells Fargo & Company upped their target price on Hubbell from $181.00 to $200.00 in a research note on Thursday, April 28th. Morgan Stanley cut their price objective on Hubbell from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Tuesday, May 31st. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Saturday, April 30th. Finally, Mizuho cut their price objective on Hubbell from $240.00 to $220.00 and set a “buy” rating for the company in a report on Monday, February 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of “Buy” and a consensus price target of $208.00.

Shares of NYSE:HUBB traded up $5.67 during midday trading on Tuesday, reaching $203.63. 351,348 shares of the company traded hands, compared to its average volume of 334,467. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13. The company has a quick ratio of 1.27, a current ratio of 2.00 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average price is $190.37 and its two-hundred day moving average price is $192.48. Hubbell has a 12 month low of $170.76 and a 12 month high of $212.54.

Hubbell (NYSE:HUBBGet Rating) last announced its earnings results on Tuesday, April 26th. The industrial products company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.26. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.09 billion. Hubbell had a return on equity of 21.89% and a net margin of 10.77%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 EPS. Analysts forecast that Hubbell will post 9.33 earnings per share for the current year.

In related news, Director Carlos M. Cardoso sold 749 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $193.73, for a total transaction of $145,103.77. Following the completion of the sale, the director now directly owns 1,744 shares in the company, valued at approximately $337,865.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of HUBB. Steward Partners Investment Advisory LLC lifted its holdings in Hubbell by 4.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the industrial products company’s stock worth $259,000 after buying an additional 54 shares during the period. Avestar Capital LLC lifted its holdings in Hubbell by 4.1% in the 1st quarter. Avestar Capital LLC now owns 1,372 shares of the industrial products company’s stock worth $252,000 after buying an additional 54 shares during the period. FDx Advisors Inc. lifted its holdings in Hubbell by 3.2% in the 1st quarter. FDx Advisors Inc. now owns 1,742 shares of the industrial products company’s stock worth $320,000 after buying an additional 54 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Hubbell by 0.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 7,201 shares of the industrial products company’s stock worth $1,500,000 after buying an additional 61 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in Hubbell by 1.2% in the 4th quarter. Pacer Advisors Inc. now owns 5,659 shares of the industrial products company’s stock worth $1,179,000 after buying an additional 69 shares during the period. Institutional investors own 86.37% of the company’s stock.

About Hubbell (Get Rating)

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.

Featured Stories

Get a free copy of the Zacks research report on Hubbell (HUBB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Want More Great Investing Ideas?

Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.com's FREE daily email newsletter.