Hubbell (HUBB) Downgraded by Zacks Investment Research to Sell
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. “
Several other equities analysts have also commented on HUBB. JMP Securities set a $146.00 target price on shares of Hubbell and gave the company a buy rating in a report on Tuesday, April 2nd. ValuEngine raised shares of Hubbell from a sell rating to a hold rating in a report on Monday, February 4th. CIBC reaffirmed a market perform rating on shares of Hubbell in a report on Tuesday, January 8th. Oppenheimer reaffirmed a market perform rating on shares of Hubbell in a report on Tuesday, January 8th. Finally, Morgan Stanley lowered shares of Hubbell from an overweight rating to an equal weight rating and reduced their target price for the company from $131.00 to $109.00 in a report on Tuesday, December 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $133.29.
Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, February 5th. The industrial products company reported $1.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.03. Hubbell had a net margin of 8.04% and a return on equity of 23.08%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm earned $1.54 EPS. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. Research analysts expect that Hubbell will post 8.07 earnings per share for the current year.
In other Hubbell news, VP An-Ping Hsieh sold 6,315 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $122.32, for a total value of $772,450.80. Following the sale, the vice president now owns 24,376 shares of the company’s stock, valued at approximately $2,981,672.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Quantamental Technologies LLC bought a new stake in Hubbell in the 4th quarter worth $30,000. Meeder Asset Management Inc. bought a new stake in Hubbell in the 4th quarter worth $35,000. Essex Investment Management Co. LLC purchased a new stake in shares of Hubbell in the 4th quarter worth about $35,000. Enlightenment Research LLC purchased a new stake in shares of Hubbell in the 4th quarter worth about $40,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Hubbell in the 4th quarter worth about $65,000. 86.56% of the stock is currently owned by institutional investors and hedge funds.
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.
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