Sanford C. Bernstein Begins Coverage on Hubbell (NYSE:HUBB)

Equities researchers at Sanford C. Bernstein started coverage on shares of Hubbell (NYSE:HUBB) in a research report issued on Tuesday, Briefing.com reports. The firm set an “outperform” rating and a $535.00 price target on the industrial products company’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 25.91% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays increased their target price on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Stephens reaffirmed an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Morgan Stanley lifted their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Mizuho upped their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Stock Down 0.2 %

Shares of HUBB stock opened at $424.92 on Tuesday. Hubbell has a one year low of $274.42 and a one year high of $461.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The stock has a fifty day moving average price of $422.50 and a 200 day moving average price of $396.04. The stock has a market cap of $22.81 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 1.58 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business earned $3.95 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Analysts predict that Hubbell will post 16.47 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hubbell

Several institutional investors have recently modified their holdings of the business. Nvwm LLC acquired a new stake in Hubbell during the 1st quarter worth $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Hubbell during the third quarter worth $41,000. Quarry LP acquired a new stake in shares of Hubbell during the second quarter worth $49,000. Northwest Investment Counselors LLC bought a new stake in Hubbell in the third quarter valued at about $58,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Hubbell in the second quarter valued at about $62,000. Institutional investors and hedge funds 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.