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Hubbell (NYSE:HUBB - Get Rating) was upgraded by investment analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a note issued to investors on Friday.
A number of other equities analysts have also weighed in on HUBB. Wells Fargo & Company boosted their price objective on shares of Hubbell to $196.00 and gave the company an "outperform" rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $175.00 to $200.00 in a research report on Thursday, July 28th. Finally, Morgan Stanley upped their price target on shares of Hubbell from $190.00 to $206.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 27th.Hubbell Trading Down 0.3 %
Shares of NYSE:HUBB traded down $0.65 during trading on Friday, reaching $213.52. The stock had a trading volume of 286,514 shares, compared to its average volume of 323,992. The business has a fifty day moving average price of $190.95 and a 200-day moving average price of $188.31. The company has a quick ratio of 1.31, a current ratio of 2.03 and a debt-to-equity ratio of 0.63. The stock has a market cap of $11.46 billion, a P/E ratio of 22.04, a PEG ratio of 2.18 and a beta of 1.17. Hubbell has a fifty-two week low of $170.21 and a fifty-two week high of $220.47.
Hubbell (NYSE:HUBB - Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The industrial products company reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.40. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.20 billion. Hubbell had a net margin of 11.18% and a return on equity of 22.61%. The company's revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.36 earnings per share. As a group, analysts anticipate that Hubbell will post 9.81 earnings per share for the current fiscal year. Insider Buying and Selling at Hubbell
In other news, Director Carlos M. Cardoso sold 749 shares of the firm's stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $193.73, for a total value of $145,103.77. Following the transaction, the director now directly owns 1,744 shares in the company, valued at approximately $337,865.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is currently owned by insiders. Institutional Investors Weigh In On Hubbell
Institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI purchased a new stake in shares of Hubbell in the fourth quarter valued at $36,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Hubbell in the fourth quarter valued at $7,981,000. Raymond James Trust N.A. bought a new stake in Hubbell in the fourth quarter valued at $232,000. Quadrant Capital Group LLC grew its position in Hubbell by 27.1% in the fourth quarter. Quadrant Capital Group LLC now owns 385 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 82 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hubbell by 30.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,128 shares of the industrial products company's stock valued at $1,485,000 after acquiring an additional 1,676 shares during the period. 86.37% of the stock is currently owned by institutional investors and hedge funds. Hubbell Company Profile (Get Rating)
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.Further ReadingGet a free copy of the StockNews.com research report on Hubbell (HUBB)How to Use High Beta Stocks to Maximize Your Investing ProfitsCronos Group Inc's Revenues Are Up, Is It Time to Buy?Why Apple Could Be At All-Time Highs By Year EndBeyond Meat Is Not Beyond Hope, And It's CheapBJ’s Wholesale Club Stock Has More Room to Grow
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