NEW YORK - Electrical manufacturer Hubbell (NYSE:HUBB) has received mixed signals from analysts in recent weeks, with the latest move by StockNews.com downgrading the company's stock to "Hold" on Tuesday. This comes after a series of varied assessments from notable financial institutions, reflecting differing views on the company's market position and future performance.
Barclays initiated coverage on Hubbell on Monday, assigning an "Equal weight" rating with a price target of $325. This neutral stance followed JPMorgan Chase & Co. (NYSE:JPM)'s more bullish take from November 17, when the firm upgraded Hubbell to "Overweight" and nudged its price target up from $333 to $335.
The rating changes over the past several months show a range of opinions among analysts:
- Wolfe Research shifted its view of Hubbell from "Underperform" to "Peer perform" back on August 11.
- On November 1, Stephens maintained an "Overweight" rating and set a high price target of $375.
- Seaport Res Ptn reiterated a "Buy" recommendation on November 8.
Amid these evaluations, MarketBeat.com's compilations suggest a consensus "Hold" rating for Hubbell, with an average price target of approximately $312.29. The company's stock opened at $303.66 and is characterized by a PE ratio of around 23 and a beta value close to one (0.93), indicating stability in comparison to the broader market.
Hubbell's financial health appears robust with a market capitalization of roughly $16 billion and a debt-to-equity ratio of 0.52. The company also boasts a net margin exceeding thirteen percent (13.56%). However, Hubbell's Q3 earnings per share fell slightly short at $3.95 versus an expected $4.07, even as revenue saw an increase of over four percent year-over-year to total $1.38 billion.
In terms of shareholder activity, VP Del Nero sold nearly two thousand shares at $285.54 each on November 3, while institutional investors like Wellington Management Group LLP have made notable adjustments to their holdings recently. These moves contribute to the nearly eighty-six percent (85.97%) ownership by hedge funds and similar entities in Hubbell.
Looking ahead, Hubbell has announced an increased quarterly dividend payout for mid-December, yielding about 1.61% annually based on current share valuation.
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