Hubbell (NYSE:HUBB) Downgraded to “Hold” Rating by Deutsche Bank Aktiengesellschaft

Hubbell (NYSE:HUBB) was downgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. They presently have a $473.00 price objective on the industrial products company’s stock, down from their previous price objective of $493.00. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 1.99% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Mizuho boosted their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their price target on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Monday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $449.11.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $463.78 on Tuesday. 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 business’s 50 day moving average is $442.31 and its two-hundred day moving average is $402.71. The company has a market cap of $24.89 billion, a P/E ratio of 33.41, a P/E/G ratio of 1.71 and a beta of 0.90. Hubbell has a 12 month low of $293.91 and a 12 month high of $481.35.

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

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hubbell

Several large investors have recently modified their holdings of the business. Tidal Investments LLC increased its holdings in shares of Hubbell by 8.5% in the third quarter. Tidal Investments LLC now owns 2,358 shares of the industrial products company’s stock worth $1,010,000 after acquiring an additional 184 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Hubbell in the third quarter worth about $247,000. M&T Bank Corp increased its holdings in shares of Hubbell by 0.5% in the third quarter. M&T Bank Corp now owns 26,242 shares of the industrial products company’s stock worth $11,241,000 after acquiring an additional 124 shares in the last quarter. Unigestion Holding SA bought a new stake in shares of Hubbell in the third quarter worth about $861,000. Finally, Rehmann Capital Advisory Group grew its holdings in shares of Hubbell by 2.5% during the third quarter. Rehmann Capital Advisory Group now owns 1,707 shares of the industrial products company’s stock worth $731,000 after buying an additional 41 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Company Profile

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.