Morgan Stanley Trims Hubbell (NYSE:HUBB) Target Price to $145.00

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Hubbell (NYSE:HUBB) had its price target cut by equities researchers at Morgan Stanley from $153.00 to $145.00 in a research report issued on Monday, March 12th. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price objective points to a potential upside of 23.52% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Hubbell from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a research note on Thursday, February 1st. Oppenheimer reissued a “buy” rating and issued a $160.00 target price on shares of Hubbell in a research note on Tuesday, January 30th. Wolfe Research raised shares of Hubbell from a “market perform” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Friday, February 9th. Wells Fargo reissued a “buy” rating and issued a $143.00 target price (up previously from $136.00) on shares of Hubbell in a research note on Wednesday, December 20th. Finally, JPMorgan Chase raised shares of Hubbell from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $152.00.

Shares of NYSE:HUBB traded down $2.61 during midday trading on Monday, hitting $117.39. 374,029 shares of the stock were exchanged, compared to its average volume of 423,229. Hubbell has a twelve month low of $109.32 and a twelve month high of $149.03. The company has a market capitalization of $6,504.08, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.65 and a beta of 1.03. The company has a quick ratio of 1.37, a current ratio of 2.27 and a debt-to-equity ratio of 0.60.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.12. Hubbell had a net margin of 6.63% and a return on equity of 20.16%. The firm had revenue of $917.70 million during the quarter, compared to the consensus estimate of $901.23 million. During the same quarter in the previous year, the company posted $1.35 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. equities analysts anticipate that Hubbell will post 7.18 earnings per share for the current year.

In related news, VP Stephen M. Mais sold 4,692 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $135.59, for a total transaction of $636,188.28. Following the transaction, the vice president now directly owns 16,669 shares of the company’s stock, valued at approximately $2,260,149.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David G. Nord sold 12,076 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $133.76, for a total value of $1,615,285.76. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in HUBB. Nationwide Fund Advisors raised its position in shares of Hubbell by 7.9% in the 3rd quarter. Nationwide Fund Advisors now owns 145,014 shares of the industrial products company’s stock valued at $16,825,000 after purchasing an additional 10,640 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Hubbell in the 3rd quarter valued at approximately $749,000. State Board of Administration of Florida Retirement System raised its position in shares of Hubbell by 3.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 75,069 shares of the industrial products company’s stock valued at $8,710,000 after purchasing an additional 2,530 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Hubbell by 456.3% in the 3rd quarter. Prudential Financial Inc. now owns 179,749 shares of the industrial products company’s stock valued at $20,854,000 after purchasing an additional 147,440 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Hubbell by 3.5% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 20,371 shares of the industrial products company’s stock valued at $2,363,000 after purchasing an additional 685 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

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Hubbell Company Profile

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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.

Analyst Recommendations for Hubbell (NYSE:HUBB)

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