Wolfe Research Lowers Hubbell (NYSE:HUBB) to Peer Perform

Hubbell (NYSE:HUBB) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued to clients and investors on Thursday, January 9th, Marketbeat Ratings reports.

Several other research analysts have also weighed in on HUBB. JPMorgan Chase & Co. boosted their price objective on shares of Hubbell from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Zacks Investment Research downgraded Hubbell from a “hold” rating to a “sell” rating in a research note on Thursday, January 2nd. Morgan Stanley lifted their target price on Hubbell from $138.00 to $152.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Finally, ValuEngine cut shares of Hubbell from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $149.00.

NYSE HUBB traded up $0.79 during mid-day trading on Thursday, hitting $147.05. The company’s stock had a trading volume of 1,350 shares, compared to its average volume of 190,716. The firm has a market capitalization of $7.88 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 1.83 and a beta of 1.51. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.09 and a quick ratio of 1.33. Hubbell has a 52-week low of $103.47 and a 52-week high of $149.31. The stock’s fifty day simple moving average is $147.22 and its two-hundred day simple moving average is $136.53.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.07. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.21 billion. Hubbell had a return on equity of 23.47% and a net margin of 8.34%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 earnings per share. On average, equities analysts forecast that Hubbell will post 8.06 earnings per share for the current fiscal year.

In related news, insider Rodd Richard Ruland sold 3,594 shares of Hubbell stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.96, for a total transaction of $517,392.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Joseph Anthony Capozzoli sold 1,243 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $142.39, for a total value of $176,990.77. Following the completion of the transaction, the vice president now owns 10,812 shares of the company’s stock, valued at $1,539,520.68. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. River & Mercantile Asset Management LLP purchased a new position in shares of Hubbell in the second quarter valued at $46,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of Hubbell during the 2nd quarter valued at $61,000. Quadrant Capital Group LLC grew its position in shares of Hubbell by 127.2% in the 3rd quarter. Quadrant Capital Group LLC now owns 602 shares of the industrial products company’s stock worth $75,000 after buying an additional 337 shares during the period. Cerebellum GP LLC bought a new position in shares of Hubbell during the third quarter valued at approximately $84,000. Finally, MUFG Americas Holdings Corp bought a new position in shares of Hubbell during the third quarter valued at $105,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

About Hubbell

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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.

Read More: Is a Roth IRA right for you?

Analyst Recommendations for Hubbell (NYSE:HUBB)

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.