Hubbell (NYSE:HUBB) had its target price dropped by stock analysts at Oppenheimer from $160.00 to $140.00 in a research note issued on Wednesday. The firm currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective would suggest a potential upside of 31.86% from the stock’s previous close.
Several other research firms also recently weighed in on HUBB. Zacks Investment Research raised Hubbell from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Tuesday, January 23rd. Morgan Stanley boosted their target price on Hubbell from $134.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. JPMorgan Chase raised Hubbell from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 18th. Finally, Wolfe Research raised Hubbell from a “market perform” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Hubbell has a consensus rating of “Buy” and a consensus target price of $143.00.
NYSE:HUBB opened at $106.17 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.37 and a current ratio of 2.27. Hubbell has a 1 year low of $105.10 and a 1 year high of $149.03. The company has a market capitalization of $5,994.79, a price-to-earnings ratio of 17.90, a PEG ratio of 1.52 and a beta of 1.03.
In related news, Chairman David G. Nord sold 12,076 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $133.76, for a total transaction of $1,615,285.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephen M. Mais sold 4,692 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $135.59, for a total value of $636,188.28. Following the transaction, the vice president now owns 16,669 shares of the company’s stock, valued at approximately $2,260,149.71. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of HUBB. Goldman Sachs Group Inc. boosted its holdings in Hubbell by 21.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,531,331 shares of the industrial products company’s stock valued at $207,251,000 after acquiring an additional 272,407 shares during the period. Anchor Bolt Capital LP purchased a new position in Hubbell during the 4th quarter valued at $25,272,000. Cadinha & Co. LLC boosted its holdings in Hubbell by 1,598.0% during the 4th quarter. Cadinha & Co. LLC now owns 136,862 shares of the industrial products company’s stock valued at $18,523,000 after acquiring an additional 128,802 shares during the period. Bain Capital Public Equity Management LLC purchased a new position in Hubbell during the 4th quarter valued at $13,464,000. Finally, Allianz Asset Management GmbH purchased a new position in Hubbell during the 4th quarter valued at $13,249,000. Institutional investors own 85.62% 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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