Wells Fargo & Company Issues Pessimistic Forecast for Hubbell (NYSE:HUBB) Stock Price

Hubbell (NYSE:HUBB) had its price objective dropped by investment analysts at Wells Fargo & Company from $455.00 to $450.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 3.51% from the stock’s current price.

Several other research firms also recently commented on HUBB. Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Barclays raised their price target on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Stock Up 0.2 %

HUBB stock opened at $434.76 on Tuesday. The business’s 50-day moving average price is $444.93 and its 200-day moving average price is $414.36. The stock has a market cap of $23.33 billion, a P/E ratio of 31.32, a PEG ratio of 1.69 and a beta of 0.93. Hubbell has a twelve month low of $319.03 and a twelve month high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

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

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hubbell

Several institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its holdings in shares of Hubbell by 0.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 10,665 shares of the industrial products company’s stock valued at $3,898,000 after acquiring an additional 93 shares during the period. National Bank of Canada FI grew its stake in Hubbell by 24.6% in the second quarter. National Bank of Canada FI now owns 14,756 shares of the industrial products company’s stock valued at $5,299,000 after purchasing an additional 2,915 shares during the last quarter. Private Advisor Group LLC raised its holdings in Hubbell by 89.0% in the second quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company’s stock worth $1,713,000 after purchasing an additional 2,207 shares in the last quarter. Savant Capital LLC lifted its position in shares of Hubbell by 2.6% during the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock valued at $440,000 after buying an additional 31 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Hubbell by 51.3% in the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after buying an additional 1,252 shares in the last quarter. Hedge funds and other 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.