Hubbell (NYSE:HUBB) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Hubbell's stock has been upgraded to a "Strong-Buy" rating by Wall Street Zen, up from a previous "buy" rating.
• Wells Fargo also upgraded Hubbell from "equal weight" to "overweight" and raised its target price from $445.00 to $490.00.
• The average price target for Hubbell's stock is now $472.63, with five analysts rating it as a Buy and four as Hold.

Hubbell (NYSE:HUBB - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Friday.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company upgraded Hubbell from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. Barclays raised their price target on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Stephens reiterated an "overweight" rating and set a $500.00 price objective on shares of Hubbell in a research report on Thursday, September 11th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Hubbell in a research note on Saturday, September 27th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Hubbell currently has an average rating of "Moderate Buy" and an average price target of $472.63.

Hubbell Price Performance

Shares of NYSE:HUBB traded down $10.27 on Friday, reaching $413.15. The company's stock had a trading volume of 776,553 shares, compared to its average volume of 506,642. The company has a 50-day simple moving average of $432.84 and a 200 day simple moving average of $396.77. Hubbell has a 52-week low of $299.42 and a 52-week high of $481.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. The company has a market cap of $21.95 billion, a P/E ratio of 26.83, a PEG ratio of 2.37 and a beta of 0.96.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating analysts' consensus estimates of $4.36 by $0.57. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate 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. As a group, equities research analysts anticipate that Hubbell will post 17.63 EPS for the current fiscal year.

Institutional Trading of Hubbell

A number of large investors have recently modified their holdings of HUBB. Vanguard Group Inc. grew its stake in Hubbell by 0.3% in the second quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company's stock worth $2,714,669,000 after purchasing an additional 21,508 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Hubbell by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company's stock worth $937,623,000 after buying an additional 7,142 shares in the last quarter. State Street Corp increased its stake in shares of Hubbell by 1.2% during the second quarter. State Street Corp now owns 2,183,405 shares of the industrial products company's stock valued at $891,724,000 after buying an additional 26,708 shares during the period. Invesco Ltd. raised its holdings in shares of Hubbell by 0.6% in the second quarter. Invesco Ltd. now owns 1,532,035 shares of the industrial products company's stock valued at $625,698,000 after acquiring an additional 9,697 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Hubbell by 1.8% in the second quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company's stock worth $550,571,000 after acquiring an additional 24,110 shares during the period. Hedge funds and other institutional investors own 88.16% of the company's stock.

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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