Hubbell (NYSE:HUBB) Lowered to “Hold” Rating by StockNews.com

Hubbell (NYSE:HUBB) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Several other equities research analysts also recently issued reports on the stock. Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Sanford C. Bernstein started coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target on the stock. Wells Fargo & Company reduced their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Barclays boosted their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $471.50.

Hubbell Trading Down 0.4 %

NYSE:HUBB traded down $1.68 on Tuesday, reaching $412.85. The stock had a trading volume of 896,819 shares, compared to its average volume of 551,142. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The company has a market cap of $22.16 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 1.57 and a beta of 0.93. The firm’s fifty day moving average is $441.23 and its two-hundred day moving average is $420.90. Hubbell has a 12-month low of $326.13 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm posted $3.95 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Equities analysts expect that Hubbell will post 16.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in Hubbell during the third quarter worth approximately $33,000. Versant Capital Management Inc increased its holdings in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Hubbell during the 3rd quarter valued at $41,000. Quarry LP bought a new position in Hubbell during the second quarter worth $49,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Hubbell in the third quarter valued at $58,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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.