Hubbell (NYSE:HUBB) Upgraded by StockNews.com to "Buy" Rating

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

HUBB has been the subject of a number of other reports. Morgan Stanley boosted their target price on Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a "buy" rating to a "hold" rating and cut their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company cut their target price on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Barclays boosted their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Finally, Sanford C. Bernstein started coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $471.50.

Hubbell Trading Down 3.3 %

NYSE HUBB traded down $12.68 during trading hours on Monday, hitting $376.74. The company's stock had a trading volume of 624,735 shares, compared to its average volume of 620,766. The stock has a fifty day moving average of $421.57 and a 200 day moving average of $423.47. Hubbell has a twelve month low of $346.13 and a twelve month high of $481.35. The firm has a market capitalization of $20.22 billion, a P/E ratio of 26.24, a PEG ratio of 1.35 and a beta of 0.92. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating analysts' consensus estimates of $4.02 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company's quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $3.69 EPS. Equities research analysts forecast that Hubbell will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Hubbell

Institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank lifted its position in Hubbell by 59.1% during the 4th quarter. Toronto Dominion Bank now owns 28,719 shares of the industrial products company's stock worth $12,030,000 after buying an additional 10,667 shares in the last quarter. Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Hubbell in the 4th quarter valued at about $1,094,000. Pacific Point Advisors LLC bought a new stake in Hubbell during the 4th quarter worth approximately $4,492,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Hubbell by 22.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 273,164 shares of the industrial products company's stock worth $114,426,000 after purchasing an additional 50,565 shares in the last quarter. Finally, Vident Advisory LLC increased its stake in Hubbell by 37.3% during the 4th quarter. Vident Advisory LLC now owns 2,492 shares of the industrial products company's stock worth $1,044,000 after purchasing an additional 677 shares in the last quarter. 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.