Hubbell (HUBB) Stock Sinks As Market Gains: What You Should Know
Hubbell (HUBB) closed the most recent trading day at $326.76, moving -0.19% from the previous trading session. This move lagged the S&P 500's daily gain of 0.38%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.54%.
Prior to today's trading, shares of the electrical products manufacturer had gained 3.7% over the past month. This has outpaced the Industrial Products sector's loss of 0.54% and the S&P 500's loss of 1.68% in that time.
Hubbell will be looking to display strength as it nears its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $1.41 billion, up 7.45% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Hubbell. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.65% higher. Hubbell is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Hubbell is holding a Forward P/E ratio of 21.38. This represents a no noticeable deviation compared to its industry's average Forward P/E of 21.38.
Investors should also note that HUBB has a PEG ratio of 2.14 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Manufacturing - Electrical Utilities was holding an average PEG ratio of 2.14 at yesterday's closing price.
The Manufacturing - Electrical Utilities industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Hubbell Inc (HUBB) : Free Stock Analysis Report
