Barclays Cuts Hubbell (NYSE:HUBB) Price Target to $384.00

Hubbell (NYSE:HUBB) had its price target dropped by analysts at Barclays from $400.00 to $384.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective would suggest a potential upside of 2.91% from the company’s previous close.

Several other equities analysts also recently commented on the stock. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 price target on the stock. Wells Fargo & Company cut their price objective on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Mizuho upped their target price on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $386.57.

Hubbell Stock Performance

Shares of HUBB traded down $0.17 during midday trading on Thursday, reaching $373.13. The stock had a trading volume of 347,957 shares, compared to its average volume of 426,063. The company has a current ratio of 1.66, a quick ratio of 1.01 and a debt-to-equity ratio of 0.64. The firm has a 50 day simple moving average of $397.61 and a 200-day simple moving average of $344.52. The firm has a market cap of $20.01 billion, a PE ratio of 27.85, a P/E/G ratio of 2.26 and a beta of 0.96. Hubbell has a one year low of $248.37 and a one year high of $429.61.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the business earned $3.61 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hubbell will post 16.4 EPS for the current year.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,837 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $358.16, for a total value of $657,939.92. Following the completion of the transaction, the insider now owns 5,296 shares of the company’s stock, valued at $1,896,815.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Hubbell news, insider Mark Eugene Mikes sold 1,837 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $358.16, for a total transaction of $657,939.92. Following the completion of the sale, the insider now directly owns 5,296 shares in the company, valued at $1,896,815.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gerben Bakker sold 13,355 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total value of $4,716,051.15. Following the completion of the sale, the chief executive officer now directly owns 51,783 shares in the company, valued at approximately $18,286,130.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,125 shares of company stock valued at $12,065,100. 0.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hubbell

A number of hedge funds have recently made changes to their positions in the stock. North Star Asset Management Inc. lifted its stake in Hubbell by 1.5% in the 3rd quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock valued at $746,000 after purchasing an additional 36 shares during the last quarter. Xponance Inc. grew its holdings in shares of Hubbell by 0.4% during the fourth quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock worth $3,006,000 after purchasing an additional 36 shares during the last quarter. Tevis Investment Management increased its stake in shares of Hubbell by 4.6% in the first quarter. Tevis Investment Management now owns 901 shares of the industrial products company’s stock valued at $374,000 after buying an additional 40 shares during the period. Czech National Bank raised its holdings in Hubbell by 0.4% in the 1st quarter. Czech National Bank now owns 9,435 shares of the industrial products company’s stock valued at $3,916,000 after buying an additional 42 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its position in Hubbell by 2.4% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company’s stock worth $603,000 after buying an additional 45 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Company Profile

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.