Hubbell (NYSE:HUBB) Raised to Strong-Buy at Wall Street Zen

Key Points

• Hubbell has been upgraded by Wall Street Zen from a "buy" to a "strong-buy" rating, reflecting increased analyst confidence in the stock.
• Barclays and Wells Fargo both raised their price targets for Hubbell, with Wells Fargo increasing it from $445.00 to $490.00, indicating positive outlooks for the company's performance.
• Currently, Hubbell has an average rating of "Moderate Buy" from analysts along with an average price target of $472.63 based on the latest evaluations.

Hubbell (NYSE:HUBB - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

A number of other equities analysts also recently commented on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of Hubbell in a research report on Wednesday. Barclays upped their price objective on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Stephens restated an "overweight" rating and set a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. Finally, Wells Fargo & Company upgraded shares of Hubbell from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $472.63.

Hubbell Stock Down 2.5%

Shares of NYSE:HUBB opened at $408.50 on Friday. The stock has a market cap of $21.71 billion, a P/E ratio of 26.53, a P/E/G ratio of 2.34 and a beta of 0.96. The firm has a fifty day moving average price of $430.98 and a 200 day moving average price of $399.18. 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 issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, topping analysts' consensus estimates of $4.36 by $0.57. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Sell-side analysts predict that Hubbell will post 17.63 EPS for the current year.

Hedge Funds Weigh In On Hubbell

Several hedge funds have recently added to or reduced their stakes in HUBB. Farther Finance Advisors LLC increased its holdings in Hubbell by 360.0% during the 1st quarter. Farther Finance Advisors LLC now owns 460 shares of the industrial products company's stock valued at $153,000 after acquiring an additional 360 shares in the last quarter. GAMMA Investing LLC increased its holdings in Hubbell by 58.7% during the 1st quarter. GAMMA Investing LLC now owns 581 shares of the industrial products company's stock valued at $192,000 after acquiring an additional 215 shares in the last quarter. SG Americas Securities LLC increased its holdings in Hubbell by 58.9% during the 1st quarter. SG Americas Securities LLC now owns 2,134 shares of the industrial products company's stock valued at $706,000 after acquiring an additional 791 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Hubbell by 1,450.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 38,581 shares of the industrial products company's stock valued at $12,767,000 after acquiring an additional 36,092 shares in the last quarter. Finally, CX Institutional purchased a new position in Hubbell during 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.

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