Hubbell Inc (HUBB) Stock Rating Upgraded by BidaskClub
Hubbell Inc (NYSE:HUBB) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $132.00 target price (up from $130.00) on shares of Hubbell in a research note on Monday, October 2nd. Finally, Wolfe Research assumed coverage on shares of Hubbell in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $124.00.
Shares of Hubbell (NYSE:HUBB) traded down 0.18% during mid-day trading on Friday, reaching $125.93. 249,551 shares of the company’s stock traded hands. Hubbell has a 12-month low of $101.61 and a 12-month high of $127.34. The company has a market cap of $6.89 billion, a P/E ratio of 23.89 and a beta of 1.04. The company’s 50 day moving average is $117.30 and its 200 day moving average is $115.71.
Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.15. Hubbell had a net margin of 7.96% and a return on equity of 19.69%. The company had revenue of $950.50 million for the quarter, compared to the consensus estimate of $960.28 million. During the same period in the previous year, the firm earned $1.63 earnings per share. Hubbell’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Hubbell will post $5.48 EPS for the current fiscal year.
Hubbell announced that its Board of Directors has authorized a share repurchase plan on Friday, October 20th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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Hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. grew its holdings in shares of Hubbell by 2,397.4% in the second quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 935 shares in the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Hubbell by 103.1% in the second quarter. Acrospire Investment Management LLC now owns 985 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 500 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Hubbell in the second quarter valued at approximately $182,000. Global X Management Co. LLC grew its holdings in shares of Hubbell by 220.0% in the second quarter. Global X Management Co. LLC now owns 1,760 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 1,210 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC acquired a new position in shares of Hubbell in the second quarter valued at approximately $225,000. Hedge funds and other institutional investors own 85.16% of the company’s stock.
Hubbell Company Profile
Hubbell Incorporated 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. The Company’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.
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