Barclays Issues Positive Forecast for Hubbell (NYSE:HUBB) Stock Price

Hubbell (NYSE:HUBB - Get Free Report) had its price target lifted by equities research analysts at Barclays from $414.00 to $420.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the industrial products company's stock. Barclays's target price points to a potential upside of 0.42% from the stock's previous close.

A number of other equities research analysts have also weighed in on the company. Wells Fargo & Company set a $420.00 price objective on Hubbell and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. boosted their price objective on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen downgraded Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $456.25.

Hubbell Stock Performance

NYSE:HUBB traded down $4.00 during mid-day trading on Wednesday, hitting $418.26. 214,183 shares of the stock were exchanged, compared to its average volume of 646,039. The stock has a market capitalization of $22.32 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. The firm's 50-day simple moving average is $391.50 and its 200 day simple moving average is $383.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17. Hubbell has a fifty-two week low of $299.42 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.60 earnings per share. As a group, equities analysts anticipate that Hubbell will post 17.63 EPS for the current fiscal year.

Insider Transactions at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the sale, the chief executive officer directly owned 82,101 shares of the company's stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total value of $154,516.00. Following the completion of the sale, the director directly owned 1,727 shares in the company, valued at approximately $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company's stock.

Institutional Investors Weigh In On Hubbell

A number of hedge funds have recently added to or reduced their stakes in HUBB. Creative Financial Designs Inc. ADV lifted its holdings in shares of 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 acquiring an additional 30 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Hubbell in the 2nd quarter valued at about $29,000. Tsfg LLC bought a new position in shares of Hubbell in the 1st quarter valued at about $30,000. Johnson Financial Group Inc. lifted its holdings in shares of Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 65 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Hubbell in the 1st quarter valued at about $49,000. 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.