Hubbell (NYSE:HUBB) Upgraded at StockNews.com

Hubbell (NYSE:HUBB) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

HUBB has been the subject of several other research reports. Wells Fargo & Company cut their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Barclays raised their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Morgan Stanley raised their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Stock Performance

NYSE HUBB opened at $395.20 on Monday. The stock has a market capitalization of $21.21 billion, a PE ratio of 27.52, a P/E/G ratio of 1.36 and a beta of 0.92. The business has a 50 day simple moving average of $425.25 and a two-hundred day simple moving average of $423.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 1.05. Hubbell has a 1-year low of $346.13 and a 1-year high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $3.69 EPS. On average, research analysts predict that Hubbell will post 17.63 EPS for the current fiscal year.

Hubbell declared that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HUBB. Creative Financial Designs Inc. ADV increased its stake in Hubbell by 85.7% in 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 period. Groupama Asset Managment increased its stake in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares during the period. Stonebridge Financial Group LLC purchased a new position in Hubbell in the 4th quarter worth about $30,000. Prospera Private Wealth LLC purchased a new position in Hubbell in the 3rd quarter worth about $33,000. Finally, Versant Capital Management Inc increased its stake in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares during the period. Hedge funds and other institutional investors 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.