Hubbell (NYSE:HUBB) Stock Price Expected to Rise, Barclays Analyst Says

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 report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the industrial products company's stock. Barclays's target price suggests a potential upside of 0.26% from the stock's current price.

HUBB has been the topic of several other reports. Wells Fargo & Company set a $420.00 target price on Hubbell and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Wall Street Zen lowered Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their price target on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $456.25.

Hubbell Trading Up 1.6%

HUBB stock traded up $6.41 during midday trading on Wednesday, hitting $418.91. 628,710 shares of the company's stock were exchanged, compared to its average volume of 534,260. The stock's fifty day moving average price is $389.92 and its 200-day moving average price is $383.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17. The company has a market cap of $22.36 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. Hubbell has a one year low of $299.43 and a one year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted its 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 business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The business's revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.60 earnings per share. Research analysts predict that Hubbell will post 17.63 earnings per share for the current fiscal year.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the sale, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction dated Wednesday, May 21st. The shares were 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 position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Institutional Trading of Hubbell

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV grew its holdings in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after purchasing an additional 30 shares during the period. Central Pacific Bank Trust Division bought a new position in Hubbell during the second quarter worth about $29,000. Tsfg LLC bought a new position in Hubbell during the first quarter worth about $30,000. Johnson Financial Group Inc. grew its holdings in Hubbell by 166.7% during the fourth 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, NBC Securities Inc. bought a new position in Hubbell during the first quarter worth about $49,000. Institutional investors and hedge funds own 88.16% of the company's stock.

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.