Hubbell (NYSE:HUBB) Given New $414.00 Price Target at Barclays

Hubbell (NYSE:HUBB - Get Free Report) had its price objective hoisted by research analysts at Barclays from $400.00 to $414.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Barclays's target price indicates a potential upside of 4.83% from the company's previous close.

Several other equities analysts also recently weighed in on HUBB. Wall Street Zen downgraded Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. increased their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $459.25.

Hubbell Price Performance

Shares of HUBB stock traded down $0.35 during mid-day trading on Monday, hitting $394.94. The company had a trading volume of 113,320 shares, compared to its average volume of 536,802. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The stock's 50 day moving average price is $362.37 and its 200-day moving average price is $390.61. Hubbell has a 52-week low of $299.43 and a 52-week high of $481.35. The company has a market capitalization of $21.08 billion, a P/E ratio of 27.50, a P/E/G ratio of 1.34 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same quarter in the previous year, the business earned $3.60 EPS. The company's revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts forecast that Hubbell will post 17.63 earnings per share for the current year.

Hubbell announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity at Hubbell

In other news, CEO Gerben Bakker sold 7,723 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the sale, the chief executive officer now owns 82,101 shares of the company's stock, valued at $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos M. Cardoso sold 400 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the transaction, the director now owns 1,727 shares of the company's stock, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hubbell

A number of large investors have recently made changes to their positions in HUBB. Creative Financial Designs Inc. ADV grew its holdings in Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after buying an additional 30 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in Hubbell during the fourth quarter worth $30,000. Tsfg LLC acquired a new position in shares of Hubbell in the 1st quarter valued at $30,000. Johnson Financial Group Inc. grew its holdings in shares of Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after purchasing an additional 65 shares during the period. Finally, Venturi Wealth Management LLC increased its position in shares of Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after purchasing an additional 53 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.