Hubbell (NYSE:HUBB) Raised to “Buy” at StockNews.com

Hubbell (NYSE:HUBB) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

A number of other analysts also recently weighed in on the stock. Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Morgan Stanley increased their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and increased their price target for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Finally, Wells Fargo & Company increased their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Trading Up 0.6 %

Shares of Hubbell stock traded up $2.97 on Monday, hitting $463.78. The stock had a trading volume of 578,342 shares, compared to its average volume of 444,600. The stock has a 50 day moving average of $441.22 and a 200 day moving average of $402.32. Hubbell has a twelve month low of $293.91 and a twelve month high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The firm has a market capitalization of $24.89 billion, a P/E ratio of 33.41, a PEG ratio of 1.71 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm posted $3.95 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Hubbell will post 16.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.78% of the stock is owned by corporate insiders.

Institutional Trading of Hubbell

A number of hedge funds have recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in Hubbell in the 3rd quarter worth approximately $33,000. Ashton Thomas Securities LLC bought a new stake in Hubbell in the third quarter worth $41,000. Quarry LP bought a new stake in Hubbell in the second quarter worth $49,000. Northwest Investment Counselors LLC bought a new stake in Hubbell in the third quarter worth $58,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Hubbell by 84.7% during the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 72 shares in the last quarter. Institutional investors 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.