Hubbell (HUBB) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Hubbell (NYSE:HUBB) from a hold rating to a sell rating in a research note released on Thursday morning, Zacks.com reports.

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 research analysts have also recently weighed in on HUBB. JMP Securities set a $146.00 target price on shares of Hubbell and gave the company a buy rating in a research note on Tuesday, April 2nd. ValuEngine upgraded shares of Hubbell from a sell rating to a hold rating in a research note on Monday, February 4th. CIBC reiterated a market perform rating on shares of Hubbell in a research note on Tuesday, January 8th. Finally, Oppenheimer reiterated a market perform rating on shares of Hubbell in a research note on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Hubbell has a consensus rating of Hold and a consensus price target of $131.00.

HUBB stock opened at $123.27 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.96 and a quick ratio of 1.18. Hubbell has a 52-week low of $91.88 and a 52-week high of $137.67. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.53 and a beta of 1.44.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 5th. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company earned $1.54 earnings per share. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. As a group, equities analysts anticipate that Hubbell will post 8.07 EPS for the current fiscal year.

In related news, VP An-Ping Hsieh sold 6,315 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $122.32, for a total value of $772,450.80. Following the completion of the sale, the vice president now owns 24,376 shares in the company, valued at $2,981,672.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Quantamental Technologies LLC acquired a new position in Hubbell in the fourth quarter worth about $30,000. Meeder Asset Management Inc. acquired a new position in Hubbell in the fourth quarter worth about $35,000. Essex Investment Management Co. LLC acquired a new position in Hubbell in the fourth quarter worth about $35,000. Enlightenment Research LLC acquired a new position in Hubbell in the fourth quarter worth about $40,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Hubbell in the fourth quarter worth about $65,000. 86.58% of the stock is owned by hedge funds and other institutional investors.

About Hubbell

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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