Hubbell B (HUBB) Receives a Hold from Oppenheimer

By Carrie Williams

Oppenheimer analyst Christopher Glynn maintained a Hold rating on Hubbell B (HUBBResearch Report) yesterday. The company’s shares closed yesterday at $127.60.

Glynn said:

“Organic growth was 5% including 2 months of faster growing Aclara in the organic base. Excluding Aclara, results reflected about 3% legacy organic growth including ~2% price. Price/cost produced roughly a 50 bps favorable impact to OM (a little higher at Electrical/a little less at Power), which is expected to continue. Electrical results included favorable mix (industrial growth), while Power OM contraction reflected a full quarter with Aclara (that business also had negative mix timing, and seasonally lighter revenue/cost absorption headwinds). Electrical during 2Q-3Q will absorb the preponderance of incremental $13-15M restructuring—we anticipate modest y-o-y OM pressure for those quarters. Power Systems OM should benefit/stabilize from lapping p/c and acquisition mix headwinds. Lighting OM expanded on 2% growth, including ongoing business selectivity.”

According to, Glynn is a 4-star analyst with an average return of 6.4% and a 59.3% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Roper Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hubbell B with a $132.50 average price target.

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Hubbell B’s market cap is currently $6.98B and has a P/E ratio of 19.53. The company has a Price to Book ratio of 3.92.

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Hubbell, Inc. engages in designing, manufacturing and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates though the following two segments: Electrical and Power.