Barclays Increases Hubbell (NYSE:HUBB) Price Target to $402.00

Hubbell (NYSE:HUBB) had its price target raised by stock analysts at Barclays from $400.00 to $402.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective indicates a potential downside of 7.32% from the company’s current price.

Several other analysts have also issued reports on the stock. Mizuho lifted their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley began coverage on Hubbell in a research note on Friday, September 6th. They set an “equal weight” rating and a $407.00 price objective for the company. Wells Fargo & Company raised their target price on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and boosted their price target for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Finally, Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $434.38.

Hubbell Price Performance

HUBB stock traded down $6.35 during mid-day trading on Wednesday, reaching $433.77. 231,497 shares of the company’s stock were exchanged, compared to its average volume of 441,287. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. Hubbell has a 12-month low of $248.37 and a 12-month high of $461.77. The stock’s 50 day moving average is $418.82 and its 200 day moving average is $395.15. The company has a market cap of $23.29 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.95 EPS. On average, research analysts expect that Hubbell will post 16.43 EPS for the current year.

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Nvwm LLC purchased a new stake in shares of Hubbell in the 1st quarter valued at approximately $25,000. Quarry LP acquired a new stake in Hubbell in the 2nd quarter valued at approximately $49,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell in the third quarter valued at approximately $58,000. Ashton Thomas Private Wealth LLC acquired a new position in Hubbell during the second quarter worth $62,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Hubbell by 23.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

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.