Hubbell (NYSE:HUBB) Price Target Raised to $445.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has increased its target price for Hubbell from $420.00 to $445.00, indicating a potential upside of 2.75% from the previous close.
• The stock currently has an average rating of "Hold" from analysts, with six analysts recommending a hold and three a buy, reflecting mixed opinions on its future performance.
• Hubbell's recent earnings report showed an EPS of $4.93, exceeding expectations, while revenue for the quarter was slightly below analyst estimates at $1.48 billion.

Hubbell (NYSE:HUBB - Get Free Report) had its price objective lifted by stock analysts at Wells Fargo & Company from $420.00 to $445.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's target price points to a potential upside of 4.91% from the company's current price.

HUBB has been the topic of several other research reports. Barclays lifted their price target on shares of Hubbell from $414.00 to $420.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Wall Street Zen downgraded Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, 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. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $460.75.

Hubbell Stock Performance

NYSE HUBB traded down $13.31 during trading hours on Wednesday, hitting $424.17. 205,641 shares of the stock were exchanged, compared to its average volume of 643,624. The company has a market cap of $22.64 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 2.44 and a beta of 0.99. Hubbell has a 12-month low of $299.42 and a 12-month high of $481.35. The stock has a 50-day moving average of $408.27 and a 200 day moving average of $383.52. The company has a quick ratio of 0.73, a current ratio of 1.30 and a debt-to-equity ratio of 0.30.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share for the quarter, topping the consensus estimate of $4.36 by $0.57. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. As a group, equities research analysts forecast that Hubbell will post 17.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Gerben Bakker sold 7,723 shares of the business's stock in a transaction on 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 transaction, the chief executive officer directly owned 82,101 shares in the company, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the transaction, the director 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. 0.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Huntington National Bank grew its position in shares of Hubbell by 3.0% during the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock worth $371,000 after buying an additional 26 shares during the period. Nissay Asset Management Corp Japan ADV boosted its holdings in Hubbell by 0.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock worth $2,757,000 after acquiring an additional 26 shares during the last quarter. DB Fitzpatrick & Co Inc boosted its holdings in Hubbell by 0.6% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company's stock worth $1,776,000 after acquiring an additional 26 shares during the last quarter. Chicago Capital LLC boosted its holdings in Hubbell by 0.5% during the 2nd quarter. Chicago Capital LLC now owns 6,131 shares of the industrial products company's stock worth $2,504,000 after acquiring an additional 29 shares during the last quarter. Finally, Klingman & Associates LLC increased its holdings in 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 during the last quarter. 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.