Hubbell Lowered to Equal Weight at Barclays Capital (HUB.B)
Hubbell (NASDAQ:HUB.B) was downgraded by stock analysts at Barclays Capital from an “overweight” rating to an “equal weight” rating in a report issued on Thursday, American Banking and Market News reports.
Hubbell (NASDAQ:HUB.B) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.31 by $0.06. The company had revenue of $801.30 million for the quarter, compared to the consensus estimate of $801.87 million. During the same quarter in the prior year, the company posted $1.29 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis.
Separately, analysts at DA Davidson downgraded shares of Hubbell (NASDAQ:HUB.B) from a “buy” rating to a “neutral” rating in a research note to investors on Monday, July 15th. They now have a $110.00 price target on the stock. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $102.00.
Hubbell Incorporated (NASDAQ:HUB) is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications.
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