Hubbell (NYSE:HUBB) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of Hubbell (NYSE:HUBB – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “buy” rating on the industrial products company’s stock.

A number of other research firms have also recently commented on HUBB. UBS Group cut shares of Hubbell from a “neutral” rating to a “sell” rating and cut their price target for the stock from $254.00 to $225.00 in a report on Wednesday, January 4th. Wolfe Research lowered shares of Hubbell from a “peer perform” rating to an “underperform” rating and set a $235.00 price objective for the company. in a research note on Thursday, December 1st. JPMorgan Chase & Co. raised shares of Hubbell from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $200.00 to $205.00 in a research note on Wednesday, February 1st. Morgan Stanley upped their price objective on shares of Hubbell from $226.00 to $238.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Finally, Wells Fargo & Company upped their price objective on shares of Hubbell from $221.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Hubbell presently has an average rating of “Hold” and an average target price of $230.00.

Hubbell Trading Down 4.7 %

NYSE HUBB opened at $234.36 on Thursday. The company’s 50-day moving average price is $240.14 and its 200-day moving average price is $235.98. The company has a current ratio of 1.86, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock has a market cap of $12.56 billion, a PE ratio of 22.51, a PEG ratio of 2.12 and a beta of 1.02. Hubbell has a 12 month low of $170.21 and a 12 month high of $263.30.

Hubbell (NYSE:HUBB – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The industrial products company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.19. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Hubbell had a net margin of 11.40% and a return on equity of 25.03%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.07 earnings per share. Equities research analysts forecast that Hubbell will post 11.27 earnings per share for the current year.

Insider Buying and Selling at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 9,350 shares of the stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $240.80, for a total transaction of $2,251,480.00. Following the completion of the sale, the chief executive officer now directly owns 37,801 shares of the company’s stock, valued at $9,102,480.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Several hedge funds and other institutional investors have recently modified their holdings of HUBB. First Manhattan Co. purchased a new position in shares of Hubbell in the 1st quarter valued at approximately $28,000. Northwest Investment Counselors LLC purchased a new position in Hubbell during the 4th quarter worth approximately $32,000. Johnson Financial Group Inc. purchased a new position in Hubbell during the 4th quarter worth approximately $32,000. IFP Advisors Inc raised its position in Hubbell by 25.7% during the 3rd quarter. IFP Advisors Inc now owns 274 shares of the industrial products company’s stock worth $36,000 after buying an additional 56 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new position in Hubbell during the 4th quarter worth approximately $40,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

About Hubbell

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Hubbell, Inc engages in the designing, manufacturing, and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates through the Electrical Solutions and Utility Solutions segments. The Electrical Solutions segment manufactures and sells wiring and electrical, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products.