Sanford C. Bernstein Initiates Coverage on Hubbell (NYSE:HUBB)

Sanford C. Bernstein initiated coverage on shares of Hubbell (NYSE:HUBB) in a note issued to investors on Tuesday, MarketBeat reports. The brokerage set an “outperform” rating and a $535.00 price target on the industrial products company’s stock. Sanford C. Bernstein’s target price points to a potential upside of 13.32% from the stock’s current price.

Several other brokerages also recently commented on HUBB. Wells Fargo & Company upped their price target on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays upped their price target on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Finally, Mizuho boosted their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Stock Performance

Hubbell stock opened at $472.12 on Tuesday. The company’s 50-day moving average price is $425.20 and its 200-day moving average price is $396.93. Hubbell has a twelve month low of $274.42 and a twelve month high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The company has a market cap of $25.34 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 1.58 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.95 EPS. On average, equities research analysts forecast that Hubbell will post 16.47 EPS for the current fiscal year.

Insider Transactions at Hubbell

In other news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.78% of the company’s stock.

Institutional Investors Weigh In On Hubbell

A number of hedge funds and other institutional investors have recently bought and sold shares of HUBB. Nvwm LLC purchased a new stake in Hubbell during the first quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in Hubbell during the third quarter valued at approximately $41,000. Quarry LP purchased a new stake in Hubbell during the second quarter valued at approximately $49,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell during the third quarter valued at approximately $58,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Hubbell during the 2nd quarter valued at approximately $62,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

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.