Hubbell (HUBB) Upgraded to Buy by Zacks Investment Research

Hubbell (NYSE:HUBB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $155.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.86% from the company’s current price.

According to Zacks, “Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products to commercial, industrial, utility and telecommunications markets. The Company’s products include plugs, receptacles, connectors, lighting fixtures, high voltage test and measurement equipment and voice and data signal processing components. Hubbell Incorporated is based in SHELTON, United States. “

HUBB has been the subject of a number of other research reports. Morgan Stanley restated an “overweight” rating and set a $132.00 target price (up previously from $130.00) on shares of Hubbell in a report on Monday, October 2nd. BidaskClub upgraded Hubbell from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. JPMorgan Chase & Co. restated a “hold” rating on shares of Hubbell in a report on Thursday, December 28th. Oppenheimer upgraded Hubbell from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a report on Friday, January 12th. Finally, Wells Fargo & Co restated a “buy” rating and set a $143.00 target price (up previously from $136.00) on shares of Hubbell in a report on Wednesday, December 20th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $140.40.

Shares of Hubbell (NYSE HUBB) opened at $138.56 on Tuesday. The firm has a market capitalization of $7,580.00 and a P/E ratio of 26.75. Hubbell has a 52 week low of $109.32 and a 52 week high of $141.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.43 and a current ratio of 2.28.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.15. The firm had revenue of $950.50 million during the quarter, compared to analyst estimates of $960.28 million. Hubbell had a return on equity of 19.69% and a net margin of 7.96%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 earnings per share. sell-side analysts forecast that Hubbell will post 5.45 EPS for the current year.

Hubbell declared that its Board of Directors has approved a share repurchase plan on Friday, October 20th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other Hubbell news, insider Gerben Bakker sold 590 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $125.34, for a total value of $73,950.60. Following the completion of the transaction, the insider now owns 13,249 shares in the company, valued at $1,660,629.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.28% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of HUBB. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Hubbell by 4.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 2,663 shares of the industrial products company’s stock valued at $301,000 after acquiring an additional 111 shares in the last quarter. Global X MANAGEMENT CO LLC increased its holdings in shares of Hubbell by 25.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 2,200 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 440 shares in the last quarter. ING Groep NV increased its holdings in shares of Hubbell by 7.6% during the third quarter. ING Groep NV now owns 6,699 shares of the industrial products company’s stock valued at $777,000 after acquiring an additional 472 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Hubbell by 20.8% during the third quarter. Brookstone Capital Management now owns 2,784 shares of the industrial products company’s stock valued at $323,000 after acquiring an additional 479 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Hubbell by 6.8% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,980 shares of the industrial products company’s stock valued at $926,000 after acquiring an additional 509 shares in the last quarter. Institutional investors and hedge funds own 85.10% of the company’s stock.

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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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