Hubbell (NYSE:HUBB) Cut to Hold at StockNews.com

Hubbell (NYSE:HUBB - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Tuesday.

A number of other research firms have also recently weighed in on HUBB. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a "buy" rating to a "hold" rating and lowered their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays upped their price target on Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Sanford C. Bernstein started coverage on Hubbell in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price objective for the company. Wells Fargo & Company reduced their target price on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. downgraded shares of Hubbell from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $471.50.

Hubbell Trading Down 0.4 %

HUBB stock traded down $1.68 during trading on Tuesday, hitting $412.85. The company had a trading volume of 896,819 shares, compared to its average volume of 551,142. The firm has a market capitalization of $22.16 billion, a P/E ratio of 29.74, a PEG ratio of 1.57 and a beta of 0.93. The company has a 50 day simple moving average of $441.23 and a 200-day simple moving average of $420.90. Hubbell has a 52-week low of $326.13 and a 52-week 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 - Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts' consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. Hubbell's revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.95 EPS. As a group, research analysts forecast that Hubbell will post 16.48 earnings per share for the current fiscal year.

Insider Activity at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hubbell

Several hedge funds have recently made changes to their positions in the company. Stephens Inc. AR boosted its stake in shares of Hubbell by 14.0% during the fourth quarter. Stephens Inc. AR now owns 1,895 shares of the industrial products company's stock worth $794,000 after buying an additional 232 shares during the period. Entropy Technologies LP purchased a new position in shares of Hubbell in the 4th quarter valued at approximately $2,132,000. Triasima Portfolio Management inc. grew its position in Hubbell by 2.5% in the 4th quarter. Triasima Portfolio Management inc. now owns 13,771 shares of the industrial products company's stock valued at $5,769,000 after buying an additional 335 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Hubbell during the fourth quarter worth about $69,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Hubbell by 2.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,979 shares of the industrial products company's stock worth $2,505,000 after buying an additional 154 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.

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