Wall Street Zen Downgrades Hubbell (NYSE:HUBB) to Buy

Hubbell (NYSE:HUBB) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Several other research analysts have also recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Wells Fargo & Company raised Hubbell from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Barclays raised their price target on Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Mizuho upped their price objective on Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Stephens reissued an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $476.50.

Hubbell Price Performance

HUBB stock opened at $435.02 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $23.12 billion, a P/E ratio of 28.25, a PEG ratio of 2.42 and a beta of 0.96. The business has a 50 day simple moving average of $431.29 and a 200-day simple moving average of $407.04. Hubbell has a twelve month low of $299.42 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating analysts’ consensus estimates of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. As a group, equities analysts anticipate that Hubbell will post 17.63 EPS for the current year.

Institutional Trading of Hubbell

A number of hedge funds have recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Hubbell in the first quarter worth about $213,283,000. Adage Capital Partners GP L.L.C. increased its holdings in Hubbell by 181.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock worth $322,702,000 after purchasing an additional 628,886 shares during the last quarter. Boston Partners purchased a new stake in Hubbell during the 2nd quarter worth approximately $230,691,000. Mirova US LLC acquired a new position in shares of Hubbell in the 2nd quarter valued at approximately $139,386,000. Finally, Troy Asset Management Ltd purchased a new position in shares of Hubbell during the 2nd quarter valued at approximately $132,540,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

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.