Barclays Has Lowered Expectations for Hubbell (NYSE:HUBB) Stock Price

Hubbell (NYSE:HUBB) had its price target reduced by equities researchers at Barclays from $422.00 to $400.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective points to a potential upside of 16.95% from the company’s previous close.

A number of other analysts have also issued reports on HUBB. Wells Fargo & Company dropped their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Hubbell presently has an average rating of “Hold” and a consensus target price of $462.13.

Hubbell Stock Down 1.3 %

Shares of Hubbell stock opened at $342.04 on Wednesday. Hubbell has a twelve month low of $330.32 and a twelve month high of $481.35. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average price of $382.09 and a 200 day moving average price of $418.74.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 28.62% and a net margin of 13.82%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.69 earnings per share. 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 approved a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Institutional investors and hedge funds have recently bought and sold shares of the business. Cerity Partners LLC raised its position in shares of Hubbell by 54.1% during the 3rd quarter. Cerity Partners LLC now owns 9,326 shares of the industrial products company’s stock worth $3,995,000 after purchasing an additional 3,273 shares during the period. Kingsview Wealth Management LLC boosted its holdings in shares of Hubbell by 1.0% during the third quarter. Kingsview Wealth Management LLC now owns 3,288 shares of the industrial products company’s stock valued at $1,408,000 after acquiring an additional 31 shares during the period. Swedbank AB grew its position in shares of Hubbell by 5.1% during the third quarter. Swedbank AB now owns 43,308 shares of the industrial products company’s stock worth $18,551,000 after acquiring an additional 2,100 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of Hubbell in the 3rd quarter worth about $206,000. Finally, Brooklyn Investment Group bought a new stake in Hubbell in the 3rd quarter valued at about $133,000. Institutional investors and hedge funds 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.