Hubbell (NYSE:HUBB) Price Target Cut to $384.00

Hubbell (NYSE:HUBB) had its price target lowered by Barclays from $400.00 to $384.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target suggests a potential upside of 1.08% from the company’s previous close.

HUBB has been the subject of a number of other research reports. Wells Fargo & Company decreased their price objective on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Mizuho raised their price objective on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $386.57.

Hubbell Stock Up 1.9 %

HUBB traded up $6.95 on Thursday, hitting $379.89. 433,697 shares of the company were exchanged, compared to its average volume of 487,446. The stock’s fifty day moving average is $398.06 and its 200-day moving average is $345.25. Hubbell has a 12 month low of $248.37 and a 12 month high of $429.61. 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 company has a market cap of $20.37 billion, a PE ratio of 28.33, a PEG ratio of 1.44 and a beta of 0.96.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.06. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.61 EPS. Equities research analysts predict that Hubbell will post 16.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hubbell news, VP Katherine Anne Lane sold 1,468 shares of Hubbell stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total value of $517,484.68. Following the completion of the sale, the vice president now owns 9,355 shares in the company, valued at approximately $3,297,731.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hubbell news, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the transaction, the vice president now owns 9,355 shares in the company, valued at approximately $3,297,731.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark Eugene Mikes sold 397 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the sale, the insider now owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The disclosure for this sale can be found here. Insiders have sold 4,747 shares of company stock worth $1,693,364 in the last 90 days. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its stake in shares of Hubbell by 1,850.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 74 shares in the last quarter. Lindbrook Capital LLC boosted its position in Hubbell by 127.5% in the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after buying an additional 51 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Hubbell in the fourth quarter valued at approximately $33,000. Principal Securities Inc. bought a new stake in shares of Hubbell during the fourth quarter worth $40,000. Finally, Riverview Trust Co acquired a new position in shares of Hubbell during the first quarter worth $52,000. 88.16% of the stock is currently owned by institutional investors.

About Hubbell

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.