Barclays Lowers Hubbell (NYSE:HUBB) Price Target to $384.00

Hubbell (NYSE:HUBB) had its price objective reduced by equities researchers at Barclays from $400.00 to $384.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective indicates a potential upside of 1.08% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Mizuho lifted their target price on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Wells Fargo & Company lowered their target price on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a report on Monday, March 11th. They issued a “hold” rating and a $427.00 price target for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $386.57.

Hubbell Stock Performance

NYSE HUBB traded up $6.95 on Thursday, hitting $379.89. 433,697 shares of the stock traded hands, compared to its average volume of 487,446. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.01 and a current ratio of 1.66. The business’s fifty day moving average is $398.06 and its two-hundred day moving average is $345.25. Hubbell has a 12 month low of $248.37 and a 12 month high of $429.61. The firm has a market capitalization of $20.37 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.44 and a beta of 0.96.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the firm earned $3.61 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities analysts anticipate that Hubbell will post 16.41 EPS for the current fiscal year.

Insider Activity at Hubbell

In other news, insider Mark Eugene Mikes sold 1,837 shares of Hubbell stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $358.16, for a total transaction of $657,939.92. Following the completion of the sale, the insider now owns 5,296 shares in the company, valued at approximately $1,896,815.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Katherine Anne Lane sold 1,468 shares of Hubbell stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the sale, the vice president now directly owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Eugene Mikes sold 1,837 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $358.16, for a total transaction of $657,939.92. Following the completion of the transaction, the insider now owns 5,296 shares of the company’s stock, valued at $1,896,815.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,747 shares of company stock valued at $1,693,364. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Hubbell by 15.9% during the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after purchasing an additional 918,808 shares during the last quarter. FMR LLC grew its position in Hubbell by 2.9% during the third quarter. FMR LLC now owns 2,563,965 shares of the industrial products company’s stock valued at $803,572,000 after acquiring an additional 71,962 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Hubbell by 14.2% during the first quarter. Bank of New York Mellon Corp now owns 1,743,746 shares of the industrial products company’s stock worth $723,741,000 after acquiring an additional 216,600 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Hubbell by 32,734.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after acquiring an additional 1,468,463 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Hubbell by 24.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock valued at $417,267,000 after purchasing an additional 248,493 shares in the last quarter. 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.