Stephens Reaffirms "Overweight" Rating for Hubbell (NYSE:HUBB)

Key Points

• Stephens has reaffirmed an "overweight" rating for Hubbell with a price target of $500.00, suggesting a 12.97% potential upside from the previous close.
• Hubbell's stock currently holds a consensus rating of "Moderate Buy" with a target price of $472.63, as assessed by various analysts.
• In its latest earnings report, Hubbell reported $4.93 EPS, surpassing expectations, and provided guidance for FY 2025 EPS between $17.650-18.15.

Hubbell (NYSE:HUBB - Get Free Report)'s stock had its "overweight" rating restated by equities research analysts at Stephens in a research note issued to investors on Thursday,Benzinga reports. They presently have a $500.00 price objective on the industrial products company's stock. Stephens' target price indicates a potential upside of 12.97% from the company's previous close.

Other research analysts also recently issued reports about the stock. Barclays increased their target price on shares of Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company upgraded Hubbell from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $445.00 to $490.00 in a research report on Tuesday, September 2nd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Hubbell currently has a consensus rating of "Moderate Buy" and a consensus target price of $472.63.

Hubbell Stock Performance

Shares of HUBB opened at $442.59 on Thursday. 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 stock has a 50 day moving average price of $429.76 and a two-hundred day moving average price of $387.35. The firm has a market capitalization of $23.52 billion, a P/E ratio of 28.74, a P/E/G ratio of 2.45 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating the consensus estimate of $4.36 by $0.57. The company 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. Equities analysts forecast that Hubbell will post 17.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hubbell

Large investors have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. increased its stake in shares of Hubbell by 2.0% in the second quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company's stock worth $505,000 after buying an additional 24 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in shares of Hubbell by 0.4% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock valued at $2,757,000 after buying an additional 26 shares during the period. DB Fitzpatrick & Co Inc raised its stake in Hubbell by 0.6% in the second quarter. DB Fitzpatrick & Co Inc now owns 4,349 shares of the industrial products company's stock worth $1,776,000 after buying an additional 26 shares in the last quarter. Chicago Capital LLC boosted 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 valued at $2,504,000 after purchasing an additional 29 shares in the last quarter. Finally, Klingman & Associates LLC lifted its position in Hubbell by 1.2% during the 2nd quarter. Klingman & Associates LLC now owns 2,496 shares of the industrial products company's stock valued at $1,019,000 after acquiring an additional 29 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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