Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Hubbell (HUBB) Stock Price
Media stories about Hubbell (NYSE:HUBB) have trended somewhat positive this week, according to Accern. The research firm ranks the sentiment of press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Hubbell earned a media sentiment score of 0.22 on Accern’s scale. Accern also gave media coverage about the industrial products company an impact score of 44.9651524529503 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Tuesday. JPMorgan Chase & Co. upgraded Hubbell from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 18th. Oppenheimer upgraded Hubbell from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a research note on Friday, January 12th. Wells Fargo & Co restated a “buy” rating and set a $143.00 target price (up from $136.00) on shares of Hubbell in a research note on Wednesday, December 20th. Finally, BidaskClub cut Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $140.40.
Hubbell (NYSE:HUBB) traded down $1.03 during midday trading on Tuesday, reaching $137.53. The company’s stock had a trading volume of 234,017 shares, compared to its average volume of 339,493. The company has a quick ratio of 1.43, a current ratio of 2.28 and a debt-to-equity ratio of 0.59. Hubbell has a 12-month low of $109.32 and a 12-month high of $141.67. The company has a market capitalization of $7,565.56, a PE ratio of 26.50, a PEG ratio of 2.23 and a beta of 1.09.
Hubbell announced that its board has authorized a stock repurchase program on Friday, October 20th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In other Hubbell news, insider Gerben Bakker sold 590 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $125.34, for a total transaction of $73,950.60. Following the completion of the sale, the insider now directly owns 13,249 shares in the company, valued at $1,660,629.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.28% of the stock is owned by corporate insiders.
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Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.
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