Deutsche Bank Aktiengesellschaft Downgrades Hubbell (NYSE:HUBB) to Hold

Hubbell (NYSE:HUBB) was downgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research note issued on Tuesday, MarketBeat.com reports. They currently have a $473.00 price objective on the industrial products company’s stock, down from their previous price objective of $493.00. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 3.09% from the stock’s previous close.

Several other brokerages have also weighed in on HUBB. Mizuho increased their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays increased their price objective on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Stephens reaffirmed an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Wells Fargo & Company raised their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and an average target price of $449.11.

Hubbell Stock Performance

Shares of HUBB opened at $458.81 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $24.62 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 1.73 and a beta of 0.90. The stock has a 50 day moving average of $444.28 and a 200 day moving average of $403.47. Hubbell has a 12 month low of $293.91 and a 12 month high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company earned $3.95 earnings per share. Hubbell’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Hubbell will post 16.47 earnings per share for the current year.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.78% of the company’s stock.

Institutional Investors Weigh In On Hubbell

A number of large investors have recently added to or reduced their stakes in the company. IFG Advisory LLC purchased a new position in shares of Hubbell in the second quarter worth about $475,000. Acadian Asset Management LLC increased its holdings in shares of Hubbell by 51.3% in the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after buying an additional 1,252 shares during the period. Great Valley Advisor Group Inc. increased its holdings in shares of Hubbell by 24.6% in the second quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock worth $2,511,000 after buying an additional 1,359 shares during the period. LGT Capital Partners LTD. purchased a new position in shares of Hubbell in the third quarter worth about $39,687,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Hubbell by 2.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock worth $40,731,000 after buying an additional 2,822 shares during the period. 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.