Thomas & Betts Co. (NYSE: TNB)‘s stock had its “overweight” rating reaffirmed by investment analysts at Barclays Capital (NYSE: BCS) in a note issued to investors on Tuesday.
Separately, analysts at Stifel Nicolaus downgraded shares of Thomas & Betts Co. from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. Analysts at Morgan Keegan downgraded shares of Thomas & Betts Co. from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday. Also, analysts at Wells Fargo & Co. (NYSE: WFC) downgraded shares of Thomas & Betts Co. from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday.
Thomas & Betts Corporation (Thomas & Betts) is a designer and manufacturer of electrical components used in industrial, construction, utility and communications markets. It is also a producer of commercial heating and ventilation units and highly engineered steel structures used for utility transmission. As of December 31, 2009, it had operations in 20 countries. It sells its products through three channels: electrical, utility, telephone, cable, and heating, ventilation and air-conditioning distributors; mass merchandisers, catalog merchandisers and home improvement centers, and directly to original equipment manufacturers, utilities and certain end users. It classifies its products into three segments: Electrical, Steel Structures, and Heating, Ventilation and Air-Conditioning. In April 2010, it acquired PMA AG. In October 2010, its acquired Cable Management Group, Ltd. In November 2010, it completed the divestiture of its non-strategic communications products business to Belden Inc.
Shares of Thomas & Betts Co. traded up 0.11% during mid-day trading on Tuesday, hitting $71.39. Thomas & Betts Co. has a 52 week low of $37.51 and a 52 week high of $71.47. The stock’s 50-day moving average is $56.53 and its 200-day moving average is $48.69. The company has a market cap of $3.716 billion and a P/E ratio of 21.77.
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