UBS Group started coverage on shares of Hubbell (NYSE:HUBB) in a research note issued on Tuesday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $149.00 price target on the industrial products company’s stock. UBS Group’s price target indicates a potential upside of 4.07% from the company’s previous close.
Other equities research analysts also recently issued research reports about the stock. Morgan Stanley increased their price objective on shares of Hubbell from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Zacks Investment Research downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $145.50.
Shares of NYSE:HUBB opened at $143.17 on Tuesday. Hubbell has a 52 week low of $85.62 and a 52 week high of $155.00. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.35 and a current ratio of 2.04. The company has a market capitalization of $7.76 billion, a PE ratio of 19.83, a PEG ratio of 2.90 and a beta of 1.30. The company has a 50 day moving average price of $142.63 and a two-hundred day moving average price of $127.13.
Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Thursday, July 30th. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.27. Hubbell had a net margin of 9.09% and a return on equity of 21.79%. The company had revenue of $949.20 million during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. The firm’s revenue was down 20.7% compared to the same quarter last year. On average, sell-side analysts forecast that Hubbell will post 7.19 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted its holdings in Hubbell by 142.0% during the first quarter. Rockefeller Capital Management L.P. now owns 288 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 169 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Hubbell by 7.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 68,473 shares of the industrial products company’s stock worth $8,584,000 after purchasing an additional 4,752 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Hubbell by 2.2% in the first quarter. The Manufacturers Life Insurance Company now owns 77,878 shares of the industrial products company’s stock valued at $8,936,000 after acquiring an additional 1,645 shares during the last quarter. State Street Corp lifted its stake in Hubbell by 4.1% in the first quarter. State Street Corp now owns 1,353,485 shares of the industrial products company’s stock valued at $155,299,000 after acquiring an additional 52,783 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Hubbell by 0.4% in the first quarter. Royal Bank of Canada now owns 63,259 shares of the industrial products company’s stock valued at $7,258,000 after acquiring an additional 245 shares during the last quarter. Institutional investors and hedge funds own 85.18% of the company’s stock.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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