Hubbell (NYSE:HUBB) Price Target Cut to $384.00 by Analysts at Barclays

Hubbell (NYSE:HUBB - Get Free Report) had its price target decreased by research analysts at Barclays from $400.00 to $384.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an "equal weight" rating on the industrial products company's stock. Barclays's price target would indicate a potential upside of 2.97% from the stock's previous close.

Other analysts have also issued research reports about the company. Mizuho increased their price objective on Hubbell from $370.00 to $450.00 and gave the company a "buy" rating in a research note on Wednesday, March 20th. Wells Fargo & Company decreased their price objective on Hubbell from $435.00 to $397.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a research note on Monday, March 11th. They set a "hold" rating and a $427.00 price objective on the stock. Finally, StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Hubbell has a consensus rating of "Moderate Buy" and a consensus price target of $386.57.

Hubbell Price Performance

Shares of HUBB stock traded down $0.36 during mid-day trading on Thursday, reaching $372.94. The stock had a trading volume of 645,588 shares, compared to its average volume of 429,981. Hubbell has a 12-month low of $248.37 and a 12-month high of $429.61. The company has a market cap of $20.00 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The business has a 50-day simple moving average of $397.77 and a 200 day simple moving average of $344.72. The company has a current ratio of 1.66, a quick ratio of 1.01 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, beating analysts' consensus estimates of $3.54 by $0.06. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.61 earnings per share. On average, sell-side analysts anticipate that Hubbell will post 16.4 earnings per share for the current year.

Insider Transactions at Hubbell

In other news, VP Nero Jonathan M. Del sold 1,098 shares of the firm's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.74, for a total value of $387,308.52. Following the transaction, the vice president now directly owns 3,646 shares in the company, valued at approximately $1,286,090.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Mark Eugene Mikes sold 1,837 shares of the firm's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $358.16, for a total transaction of $657,939.92. Following the sale, the insider now directly owns 5,296 shares in the company, valued at approximately $1,896,815.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Nero Jonathan M. Del sold 1,098 shares of the firm's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $352.74, for a total value of $387,308.52. Following the sale, the vice president now owns 3,646 shares in the company, valued at $1,286,090.04. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock worth $12,065,100 in the last three months. 0.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hubbell

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Hubbell by 15.9% during the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company's stock valued at $2,202,707,000 after buying an additional 918,808 shares during the period. FMR LLC increased its holdings in Hubbell by 2.9% during the 3rd quarter. FMR LLC now owns 2,563,965 shares of the industrial products company's stock worth $803,572,000 after purchasing an additional 71,962 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Hubbell by 14.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,743,746 shares of the industrial products company's stock worth $723,741,000 after purchasing an additional 216,600 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Hubbell by 32,734.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company's stock worth $484,497,000 after purchasing an additional 1,468,463 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Hubbell by 24.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company's stock worth $417,267,000 after purchasing an additional 248,493 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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.