Hubbell (NYSE:HUBB) Stock Price Target Cut by JPMorgan Chase & Co.

Hubbell (NYSE:HUBB) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $486.00 to $470.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 7.20% from the company’s previous close.

Several other research firms have also issued reports on HUBB. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings cut shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Seaport Research Partners reissued a “buy” rating and set a $580.00 price target on shares of Hubbell in a report on Wednesday, September 30th. Finally, Wells Fargo & Company dropped their price objective on shares of Hubbell from $531.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, October 28th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $544.22.

Hubbell Price Performance

NYSE:HUBB opened at $438.42 on Wednesday. The company has a 50-day moving average of $455.10 and a 200-day moving average of $486.21. The company has a market capitalization of $23.16 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 2.11 and a beta of 0.84. Hubbell has a 52 week low of $403.82 and a 52 week high of $565.50. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.87 and a current ratio of 1.53.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share for the quarter, beating analysts’ consensus estimates of $5.75 by $0.16. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Hubbell had a net margin of 13.78% and a return on equity of 27.33%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.17 earnings per share. As a group, equities research analysts anticipate that Hubbell will post 20.55 earnings per share for the current fiscal year.

Institutional Trading of Hubbell

Institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc lifted its stake in shares of Hubbell by 2.1% in the 2nd quarter. IFP Advisors Inc now owns 1,181 shares of the industrial products company’s stock valued at $618,000 after purchasing an additional 24 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Hubbell by 2.6% during the third quarter. Global Retirement Partners LLC now owns 963 shares of the industrial products company’s stock worth $437,000 after buying an additional 24 shares in the last quarter. one8zero8 LLC boosted its holdings in Hubbell by 0.8% during the third quarter. one8zero8 LLC now owns 3,025 shares of the industrial products company’s stock worth $1,372,000 after purchasing an additional 25 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Hubbell by 2.4% in the third quarter. Farther Finance Advisors LLC now owns 1,101 shares of the industrial products company’s stock valued at $500,000 after purchasing an additional 26 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Hubbell by 3.1% during the 3rd quarter. Signaturefd LLC now owns 905 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Company Profile

Hubbell Incorporated is a manufacturer of electrical and utility products serving customers in the energy, industrial, commercial and residential markets. Its products help support the generation, transmission and distribution of electricity, as well as the installation and use of electrical systems. The company’s Utility Solutions business makes products such as connectors, insulators, arresters and other equipment used in electric utility networks. Its Electrical Solutions business supplies wiring devices, lighting and controls, enclosures and related products for buildings and industrial applications.