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Hubbell (NYSE:HUBB) Stock Rating Lowered by StockNews.com

Hubbell logo with Industrial Products background

Hubbell (NYSE:HUBB - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut Hubbell from an "overweight" rating to a "neutral" rating and lifted their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a "buy" rating to a "hold" rating and cut their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays raised their price target on shares of Hubbell from $400.00 to $402.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Mizuho raised their target price on Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $449.11.

Check Out Our Latest Stock Analysis on HUBB

Hubbell Stock Down 0.4 %

NYSE HUBB traded down $2.01 during trading on Tuesday, reaching $455.22. 61,370 shares of the company's stock traded hands, compared to its average volume of 440,611. The company's 50 day simple moving average is $446.29 and its two-hundred day simple moving average is $404.74. Hubbell has a 12-month low of $295.90 and a 12-month high of $481.35. The firm has a market cap of $24.43 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 1.71 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (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 the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business's revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $3.95 EPS. As a group, sell-side analysts forecast that Hubbell will post 16.47 EPS for the current fiscal year.

Insider Transactions at Hubbell

In other 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 value of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.78% of the company's stock.

Institutional Trading of Hubbell

A number of large investors have recently made changes to their positions in the stock. IFG Advisory LLC purchased a new position in shares of Hubbell during the 2nd quarter worth about $475,000. Acadian Asset Management LLC raised its stake in Hubbell by 51.3% during the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company's stock worth $1,347,000 after purchasing an additional 1,252 shares during the period. Great Valley Advisor Group Inc. boosted its holdings in shares of Hubbell by 24.6% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company's stock valued at $2,511,000 after purchasing an additional 1,359 shares during the last quarter. LGT Capital Partners LTD. purchased a new stake in shares of Hubbell during the 3rd quarter valued at $39,687,000. Finally, Cetera Advisors LLC acquired a new stake in shares of Hubbell during the 1st quarter worth $582,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Company Profile

(Get Free Report)

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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