Hubbell (NYSE:HUBB) Price Target Raised to $458.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target for Hubbell (NYSE:HUBB) from $417.00 to $458.00, indicating a potential upside of 7.27% from the current price.
• Hubbell has received multiple upgrades from research firms, with Wall Street Zen promoting it to a "strong-buy" rating and Wells Fargo increasing its price target to $490.00.
• The company reported earnings per share of $4.93 for the last quarter, surpassing expectations, while analysts estimate a full-year EPS of 17.63.

Hubbell (NYSE:HUBB - Get Free Report) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $417.00 to $458.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 7.27% from the company's current price.

HUBB has been the topic of several other research reports. Wall Street Zen upgraded Hubbell from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Barclays boosted their price target on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Hubbell in a research report on Wednesday, October 8th. Finally, Stephens restated an "overweight" rating and set a $500.00 target price on shares of Hubbell in a research report on Thursday, September 11th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $477.75.

Hubbell Stock Performance

NYSE HUBB opened at $426.97 on Wednesday. The company has a market capitalization of $22.69 billion, a PE ratio of 27.73, a P/E/G ratio of 2.34 and a beta of 0.96. The company has a fifty day moving average of $430.73 and a two-hundred day moving average of $400.73. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. Hubbell has a 1 year low of $299.42 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. As a group, analysts expect that Hubbell will post 17.63 earnings per share for the current year.

Hedge Funds Weigh In On Hubbell

Large investors have recently bought and sold shares of the stock. Benjamin Edwards Inc. increased its position in shares of Hubbell by 2.0% during the second quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company's stock worth $505,000 after acquiring an additional 24 shares during the last quarter. DB Fitzpatrick & Co Inc boosted its stake in shares of Hubbell by 0.6% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company's stock valued at $1,776,000 after buying an additional 26 shares during the last quarter. Chicago Capital LLC grew its position in shares of Hubbell by 0.5% during the second quarter. Chicago Capital LLC now owns 6,131 shares of the industrial products company's stock worth $2,504,000 after buying an additional 29 shares in the last quarter. Klingman & Associates LLC grew its position in shares of Hubbell by 1.2% during the second quarter. Klingman & Associates LLC now owns 2,496 shares of the industrial products company's stock worth $1,019,000 after buying an additional 29 shares in the last quarter. Finally, Bordeaux Wealth Advisors LLC increased its stake in shares of Hubbell by 5.0% in the second quarter. Bordeaux Wealth Advisors LLC now owns 635 shares of the industrial products company's stock worth $259,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors 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.

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