StockNews.com Downgrades Hubbell (NYSE:HUBB) to Buy

Hubbell (NYSE:HUBB – Get Rating) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other equities analysts also recently commented on the company. Wells Fargo & Company dropped their price objective on Hubbell from $225.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 13th. Mizuho upped their price objective on Hubbell from $252.00 to $300.00 in a research note on Wednesday, April 26th. JPMorgan Chase & Co. upgraded Hubbell from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $200.00 to $205.00 in a research note on Wednesday, February 1st. Finally, Morgan Stanley increased their target price on Hubbell from $226.00 to $238.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 1st. Two investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $237.33.

Hubbell Price Performance

Shares of NYSE HUBB opened at $282.49 on Tuesday. Hubbell has a twelve month low of $170.21 and a twelve month high of $286.17. The stock’s 50 day moving average price is $247.89 and its 200-day moving average price is $244.39. The company has a market capitalization of $15.14 billion, a PE ratio of 26.98, a PEG ratio of 2.03 and a beta of 0.99. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.58.

Hubbell (NYSE:HUBB – Get Rating) last announced its earnings results on Tuesday, April 25th. The industrial products company reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $1.15. Hubbell had a return on equity of 27.72% and a net margin of 11.15%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $2.12 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. On average, equities analysts anticipate that Hubbell will post 13.81 EPS for the current year.

Insider Transactions at Hubbell

In related news, Director Carlos M. Cardoso sold 560 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $273.16, for a total value of $152,969.60. Following the transaction, the director now owns 1,711 shares of the company’s stock, valued at $467,376.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. boosted its holdings in shares of Hubbell by 1.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,251 shares of the industrial products company’s stock worth $527,000 after purchasing an additional 42 shares during the period. SeaCrest Wealth Management LLC boosted its holdings in shares of Hubbell by 0.3% during the first quarter. SeaCrest Wealth Management LLC now owns 14,595 shares of the industrial products company’s stock worth $3,551,000 after purchasing an additional 42 shares during the period. Convergence Investment Partners LLC boosted its holdings in shares of Hubbell by 6.0% during the fourth quarter. Convergence Investment Partners LLC now owns 778 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 44 shares during the period. Quent Capital LLC boosted its holdings in shares of Hubbell by 22.1% during the third quarter. Quent Capital LLC now owns 254 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 46 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Hubbell by 0.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,156 shares of the industrial products company’s stock worth $1,210,000 after purchasing an additional 47 shares during the period. 89.71% of the stock is owned by 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.