Hubbell Incorporated (HUBB) Receives Average Recommendation of “Buy” from Analysts

Shares of Hubbell Incorporated (NYSE:HUBB) have been assigned a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $138.50.

A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Wednesday, June 27th. ValuEngine lowered Hubbell from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Wolfe Research began coverage on Hubbell in a research report on Wednesday, June 27th. They set a “market perform” rating on the stock. JMP Securities upgraded Hubbell from a “market perform” rating to an “outperform” rating in a research report on Monday, June 18th. Finally, JPMorgan Chase & Co. decreased their price objective on Hubbell from $152.00 to $138.00 and set an “overweight” rating on the stock in a research report on Thursday, April 26th.

NYSE HUBB opened at $122.27 on Friday. The company has a market cap of $6.46 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 1.62 and a beta of 1.10. Hubbell has a one year low of $100.55 and a one year high of $149.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.20 and a current ratio of 1.99.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $1.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.19. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Hubbell had a return on equity of 21.57% and a net margin of 6.45%. Hubbell’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 EPS. analysts forecast that Hubbell will post 7.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be given a $0.77 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $3.08 dividend on an annualized basis and a yield of 2.52%. Hubbell’s payout ratio is 51.94%.

A number of institutional investors and hedge funds have recently made changes to their positions in HUBB. Global X Management Co. LLC boosted its position in Hubbell by 193.4% in the 1st quarter. Global X Management Co. LLC now owns 11,297 shares of the industrial products company’s stock valued at $1,376,000 after buying an additional 7,447 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in Hubbell in the 1st quarter valued at $223,000. SG Americas Securities LLC boosted its position in Hubbell by 23.6% in the 1st quarter. SG Americas Securities LLC now owns 11,834 shares of the industrial products company’s stock valued at $1,441,000 after buying an additional 2,260 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Hubbell in the 1st quarter valued at $111,000. Finally, Meeder Asset Management Inc. boosted its position in Hubbell by 80.2% in the 1st quarter. Meeder Asset Management Inc. now owns 1,919 shares of the industrial products company’s stock valued at $235,000 after buying an additional 854 shares during the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

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.

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Analyst Recommendations for Hubbell (NYSE:HUBB)

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