Brokerages Set Hubbell Incorporated (NYSE:HUBB) Target Price at $383.57

Hubbell Incorporated (NYSE:HUBB) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $383.57.

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays raised their price objective on Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company boosted their target price on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Mizuho increased their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 price target for the company.

Insider Buying and Selling

In other news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction on Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the transaction, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the transaction, the vice president now directly owns 9,355 shares in the company, valued at $3,297,731.05. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock valued at $12,065,100 in the last 90 days. Company insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its position in shares of Hubbell by 330.4% during the third quarter. IFP Advisors Inc now owns 1,244 shares of the industrial products company’s stock worth $390,000 after acquiring an additional 955 shares during the period. Capital Investment Advisors LLC acquired a new stake in Hubbell in the 3rd quarter valued at about $262,000. Founders Financial Securities LLC acquired a new stake in Hubbell in the 3rd quarter valued at about $219,000. Exchange Traded Concepts LLC boosted its stake in shares of Hubbell by 273.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,197 shares of the industrial products company’s stock valued at $689,000 after buying an additional 1,609 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in shares of Hubbell by 3.3% during the third quarter. Asset Management One Co. Ltd. now owns 30,037 shares of the industrial products company’s stock worth $9,414,000 after buying an additional 954 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Up 1.3 %

Shares of Hubbell stock opened at $407.53 on Thursday. The company’s 50 day moving average price is $395.96 and its 200-day moving average price is $342.87. Hubbell has a 52-week low of $248.37 and a 52-week high of $429.61. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. The stock has a market capitalization of $21.86 billion, a price-to-earnings ratio of 29.01, a P/E/G ratio of 2.45 and a beta of 0.94.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.58 by $0.11. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.60 EPS. Equities research analysts forecast that Hubbell will post 16.43 EPS for the current year.

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.