Hubbell (NYSE:HUBB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, January 16th. The brokerage presently has a $152.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 15.06% from the stock’s previous close.
According to Zacks, “Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products to commercial, industrial, utility and telecommunications markets. The Company’s products include plugs, receptacles, connectors, lighting fixtures, high voltage test and measurement equipment and voice and data signal processing components. Hubbell Incorporated is based in SHELTON, United States. “
A number of other brokerages have also recently commented on HUBB. BidaskClub cut Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Wells Fargo & Co restated a “buy” rating and issued a $143.00 price target (up previously from $136.00) on shares of Hubbell in a research report on Wednesday, December 20th. Oppenheimer upgraded Hubbell from a “market perform” rating to an “outperform” rating and set a $160.00 price target for the company in a research report on Friday, January 12th. JPMorgan Chase & Co. restated a “hold” rating on shares of Hubbell in a research report on Thursday, December 28th. Finally, Morgan Stanley restated an “overweight” rating and issued a $132.00 price target (up previously from $130.00) on shares of Hubbell in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Hubbell currently has a consensus rating of “Buy” and a consensus target price of $153.60.
Hubbell (NYSE HUBB) traded up $2.45 during trading on Tuesday, reaching $132.10. The company had a trading volume of 435,529 shares, compared to its average volume of 390,987. The stock has a market capitalization of $7,225.87, a PE ratio of 30.02, a PEG ratio of 1.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.37 and a current ratio of 2.27. Hubbell has a 12 month low of $109.32 and a 12 month high of $149.03.
Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.12. The company had revenue of $917.70 million during the quarter, compared to analysts’ expectations of $901.23 million. Hubbell had a return on equity of 20.16% and a net margin of 6.63%. Hubbell’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 earnings per share. equities research analysts anticipate that Hubbell will post 7.2 EPS for the current fiscal year.
Hubbell announced that its board has initiated a stock repurchase program on Friday, October 20th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Large investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC grew its position in shares of Hubbell by 103.1% during the second quarter. Acrospire Investment Management LLC now owns 985 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 500 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Hubbell during the second quarter worth about $182,000. Advisors Asset Management Inc. grew its position in shares of Hubbell by 1,122.0% during the third quarter. Advisors Asset Management Inc. now owns 1,613 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 1,481 shares in the last quarter. Oakwood Capital Management LLC CA purchased a new stake in shares of Hubbell during the fourth quarter worth about $225,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Hubbell during the third quarter worth about $221,000. Hedge funds and other institutional investors own 85.30% of the company’s stock.
Hubbell Company Profile
Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.
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